§ 1113. Kinds of insurance authorized. (a) The kinds of insurance\nwhich may be authorized in this state, subject to other provisions of\nthis chapter, and their scope, are set forth in the following\nparagraphs. The power to do any kind of insurance against loss of or\ndamage to property shall include the power to insure all lawful\ninterests in such property and to insure against loss of use and\noccupancy, rents and profits resulting therefrom. No kind of insurance\nshall include life insurance, title insurance or insurance against legal\nliability for personal injury or death unless specified in this section.\nIn addition to any power specifically conferred by this chapter to\nengage in any other kind of business than an insurance business, any\ninsurer authorized to do business in this state may engage in other\nkinds of business to the extent necessarily or properly incidental to\nthe kinds of insurance business it is authorized to do in this state.\n (1) "Life Insurance," means every insurance upon the lives of human\nbeings, and every insurance appertaining thereto, including the granting\nof endowment benefits, additional benefits in the event of death by\naccident, additional benefits to safeguard the contract from lapse,\naccelerated payments of part or all of the death benefit or a special\nsurrender value upon (A) diagnosis of terminal illness defined as a life\nexpectancy of twelve months or less, (B) diagnosis of a medical\ncondition requiring extraordinary medical care or treatment regardless\nof life expectancy, (C) certification by a licensed health care\npractitioner of any condition which requires continuous care for the\nremainder of the insured's life in an eligible facility or at home when\nthe insured is chronically ill as defined by Section 7702(B) of the\nInternal Revenue Code and regulations thereunder, provided the\naccelerated payments qualify under Section 101(g)(3) of the Internal\nRevenue Code and all other applicable sections of federal law in order\nto maintain favorable tax treatment, (D) certification by a licensed\nhealth care practitioner that the insured is chronically ill as defined\nby Section 7702 (B) of the Internal Revenue Code and regulations\nthereunder, provided the accelerated payments qualify under Section\n101(g)(3) of the Internal Revenue Code and all other applicable sections\nof federal law in order to maintain favorable tax treatment, (E) the\ninsured's having been a resident of a nursing home, as defined in\nsection twenty-eight hundred one of the public health law, for a period\nof three months or more, with an expectation that such insured will\nremain a resident of a nursing home until death, or (F) the insured's\nhaving been the recipient of end of life or palliative care, for a\nperiod of three months or more, at a residential health care facility as\ndefined in subdivision three of section twenty-eight hundred one of the\npublic health law, home care services as defined in subdivision one of\nsection thirty-six hundred two of the public health law or hospice as\ndefined in subdivision one of section four thousand two of the public\nhealth law, with the expectation that such insured will continue to\nrequire such services until death. "Life insurance" also includes a\nspecial surrender value upon total and permanent disability of the\ninsured, optional modes of settlement of proceeds, and additional\nbenefits to safeguard the contract against lapse in the event of\nunemployment of the insured or in the event the insured is a resident of\na nursing home. Amounts paid the insurer for life insurance and proceeds\napplied under optional modes of settlement or under dividend options may\nbe allocated by the insurer to one or more separate accounts pursuant to\nsection four thousand two hundred forty of this chapter.\n (2) "Annuities," means all agreements to make periodical payments for\na period certain or where the making or continuance of all or some of a\nseries of s
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