N.Y. Insurance Law Section 4222
Policy loans

The policy loan value referred to in paragraph eight of subsection (a) of § 3203 (Individual life insurance policies)section three thousand two hundred three of this chapter shall be the cash surrender value at the end of the current policy year calculated in accordance with the provisions of:

(a)

Subsection (a) of § 4220 (Life insurance and annuities)section four thousand two hundred twenty of this article, for policies issued before the operative date of § 4221 (Standard nonforfeiture law)section four thousand two hundred twenty-one of this article, except that any dividends credited to the policy need not be included and such policies may provide that the company may defer any such loan for not exceeding six months after receipt of the loan application;

(b)

§ 4221 (Standard nonforfeiture law)Section four thousand two hundred twenty-one of this article, for policies issued on or after the operative date of such section, except that the policy loan value for a policy under which any cash surrender value is adjusted in accordance with a market-value adjustment formula shall be a percentage (not less than seventy-five percent) of the sum of (1) the amount of any loan outstanding and (2) the remaining portion of the cash surrender value as so adjusted at the time the loan is applied for, but, if the policy so provides, not in excess of such cash surrender value before adjustment. The company shall reserve the right to defer any such loan, except when made to pay premiums, for six months after receipt of the loan application.

Source: Section 4222 — Policy loans, https://www.­nysenate.­gov/legislation/laws/ISC/4222 (updated Sep. 22, 2014; accessed Jun. 18, 2026).

4202
Capital and surplus requirements of life insurance companies 4203
Transfer of shares of domestic life insurance company 4204
Financial requirements for the organization of stock accident and health insurance companies and stock legal services insurance companies 4205
Life, accident and health, and legal services insurance companies 4206
Deposits by life, accident and health, and legal services insurance companies 4207
Dividends to shareholders of life, and accident and health insurance companies 4208
Financial and additional requirements for the organization of mutual life, accident and health, and legal services insurance companies 4209
Mutual life insurance companies, mutual accident and health insurance companies 4210
Election of directors of domestic mutual life insurance companies 4211
Election of directors of domestic stock life insurance companies 4212
Stock life insurance companies 4213
Industrial life insurance 4214
Industrial accident and industrial health insurance 4215
Contracts with industrial life insurance agents 4216
Group life insurance 4217
Valuation of insurance policies and contracts 4218
When actual premium is less than net premium 4219
Limitation on accumulation of surplus of life insurance companies 4220
Life insurance and annuities 4221
Standard nonforfeiture law 4222
Policy loans 4223
Standard nonforfeiture law for annuities 4224
Life, accident and health insurance 4225
Domestic life insurance companies 4226
Misrepresentations, misleading statements and incomplete comparisons by insurers 4228
Life insurance and annuity business 4230
Salaries and pensions to officers and employees 4231
Policyholder’s participation in surplus of life insurance companies 4232
Amounts credited on certain contracts or life insurance policies 4233
Annual statements of life insurance companies 4235
Group accident and health insurance 4236
Joint underwriting of group health insurance for persons aged sixty-five and over 4237
Blanket accident and health insurance 4237–A
Stop-loss insurance 4238
Group annuity contracts 4239
Allocation and reporting of income and expenses of life insurers 4240
Separate accounts 4241
Penalty for violation of filing requirements
Green check means up to date. Up to date

Verified:
Jun. 18, 2026

Last modified:
Sep. 22, 2014

§ 4222. Policy loans's source at nysenate​.gov

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