CT SB00409

Requires universal life insurance policies delivered in Connecticut to display a notice on the cover in at least 12-point boldface capital letters warning that premiums may increase in the future and encouraging policyholders to read and understand the policy

Maintains existing requirement that all life insurance and annuity policies be filed with and approved by the Insurance Commissioner before delivery

Authorizes the Insurance Commissioner to disapprove policy forms that do not comply with law or contain unfair, deceptive provisions, or provisions that encourage misrepresentation

Permits life insurance contracts to include optional health insurance riders if the rider is filed and approved by the Insurance Commissioner, provided the issuing company is licensed to sell health insurance

Effective date: October 1, 2012