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CT SB01153
Bill
AI Summary
- Establishes a task force to examine converting life insurance policies and annuities to long-term care policies
- Examines requiring life insurance companies to notify policyholders about life settlement contracts as an alternative to policy lapse or surrender
- Task force consists of 8 members: two each appointed by House Speaker and Senate President Pro Tempore, one each from House and Senate majority and minority leaders, and the Insurance Commissioner or designee
- Appointments must be made within 30 days of the effective date, with the first meeting scheduled within 60 days
- Task force must submit findings and recommendations to the joint standing committee on insurance by January 1, 2012, and terminates upon submission of the report or January 1, 2012, whichever is later
Legislative Description
An Act Establishing A Task Force To Study Life Insurance Policy And Annuity Conversions And The Provision Of Certain Notifications By Life Insurance Companies.
Last Action
Signed by the Governor
7/13/2011
Committee Referrals
Government Administration and Elections5/18/2011
Insurance and Real Estate3/9/2011
Full Bill Text
No bill text available