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CA AB1563

Bill

Status

Engrossed

4/22/2021

Primary Sponsor

Insurance

Click for details

Origin

State Assembly

2021-2022 Session

AI Summary

  • Requires insurers to include their internet website address as an additional method for policyowners to request annual life insurance policy illustrations without charge.

  • Applies to annual reports on life insurance policies designated for use of illustrations that do not include an in-force illustration.

  • Maintains existing requirements that policyowners can request illustrations by phone, mail, or through an agent, now adding online access as an option.

  • Requires the notice to inform policyowners they should request current illustrations before considering policy replacement or making coverage changes.

Legislative Description

Life insurance policy illustrations.

Last Action

Referred to Com. on INS.

5/12/2021

Committee Referrals

Insurance5/12/2021
Rules4/26/2021
Insurance3/11/2021

Full Bill Text

No bill text available