State RegulationsNY specificDifficulty 2/5
A New York insurer that issued group life coverage is placed in liquidation. Under N.Y. Ins. Law §7708, the group and blanket life coverage generally continues after the liquidation order for:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under N.Y. Ins. Law §7708(c)(2), when a member insurer is liquidated, group and blanket life coverage continues for 180 days after the liquidation order, and the Superintendent of Financial Services may extend that continuation to as long as 366 days. This gives covered group members time to arrange replacement coverage rather than losing protection abruptly.
Why the other options are wrong
- A) 90 days is the outside cap used in conversion-privilege settings, not the group-coverage continuation period after liquidation.
- C) 45 days is the extension window used when a conversion notice is late — it does not apply to continuation after liquidation.
- D) 60 days is the group health conversion application period, not the group life continuation figure.
Memory hook
Guaranty continuation: 180 days after liquidation, and the Superintendent can stretch it to 366.