CT SB00860

Prohibits employers and trustees from maintaining life insurance coverage on employees whose employment begins on or after October 1, 2013, after those employees' employment terminates (retirement excluded).

Requires written consent from each employee or retired employee before an employer or trustee may procure life insurance on their life, and consent must acknowledge that coverage may continue after employment ends for employees hired before October 1, 2013.

Prohibits retaliation against any employee or retired employee who refuses to consent to life insurance coverage.

Requires that nonkey or nonmanagerial employees' insurance coverage amounts be reasonably related to benefits provided to those employees in the aggregate.

Applies to all policies delivered or issued for delivery in Connecticut; effective October 1, 2013.