CA AB1747

Requires all life insurance policies issued in California to include a 60-day grace period from the premium due date, during which the policy remains in force and does not run concurrently with paid coverage.

Mandates insurers provide individual life insurance applicants the right to designate at least one additional person to receive notice of policy lapse or termination for nonpayment of premium, with annual notification of the right to change designations.

Requires insurers to mail notice of pending lapse and termination at least 30 days before the effective termination date to the policy owner, designated designee, and any known assignees or interested parties for nonpayment of premium.

Requires notice to policy owners and designees to be sent by first-class mail within 30 days after a premium becomes due and unpaid, with electronic notice to assignees permitted only with their consent.

Allows insurers to charge policy owners up to $2.50 per notice to cover reasonable compliance costs.