N.Y. Comp. Codes R. & Regs. tit. 11, § 48.3 – Disclosure to policy owner.

(a) An insurer shall provide to a policy owner (other than an owner of a group annuity certificate used to fund an employee benefit plan within the meaning of the Federal Employee Retirement Income Security Act of 1974, 29 U.S.C. section 1001 et seq.) the current scale of non-guaranteed elements no later than the date of issue, either in the policy, application, illustration of the policy as sold, or a special disclosure document, in a manner that will allow an easy comparison to the corresponding guarantees. For the purpose of Part 53 of this Title (Regulation 74), the special disclosure document by itself shall not constitute an illustration.
(b) An insurer shall provide a disclosure document to a policy owner (other than an owner of a group annuity certificate used to fund an employee benefit plan within the meaning of the Federal Employee Retirement Income Security Act of 1974, 29 U.S.C. section 1001 et seq.) at least 60 days prior to any adverse change in the current scale of non-guaranteed elements. Using the same terminology that is used in the policy, the disclosure shall contain:
1. (1) the non-guaranteed elements that have changed;
2. (2) the new current scale of non-guaranteed elements;
3. (3) the prior current scale of non-guaranteed elements since the last disclosure;
4. (4) the guaranteed scale; and
5. (5) a prominent description of any adverse change in the current scale of non-guaranteed elements identifying the nature of the change and that the change is adverse or the conditions under which the change would be adverse.