Limits certain regulations or orders promulgated by the superintendent related to term life insurance

This bill limits the information insurers must provide to determine suitability for term life insurance policies to just a consumer's age and annual income. It prohibits the insurance superintendent from creating or enforcing any regulations requiring additional suitability information (like investment goals or family needs) when selling or amending term life insurance policies. The law directly affects insurers selling term life insurance in New York and the superintendent's regulatory authority over such policies. Existing regulations (like 11 NYCRR Part 224) contradicting this bill are deemed null and void, requiring the superintendent to amend them.