(at the request of House Interim Committee on Consumer Protection and Government Accountability)
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Regular Sponsors:
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Bill Title:
Relating to life insurance.
Catchline/Summary:
Requires insurers to offer life insurance beneficiaries option of lump sum payment. Requires insurers to offer life insurance beneficiaries option of lump sum payment. Requires insurers to provide disclosures to beneficiaries choosing to deposit amount of death benefit in retained asset account. Requires insurers to provide information to Department of Consumer and Business Services regarding retained asset accounts. Allows private right of action against insurer by beneficiary.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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HB 2480 House Committee On General Government and Consumer Protection
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