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CT SB00953
Bill
Status
4/18/2013
Primary Sponsor
Insurance and Real Estate Committee
Click for details
AI Summary
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Amends Connecticut General Statutes Section 38a-430 effective October 1, 2013 to require universal life insurance policies include a specific notice on the policy cover in at least twelve-point boldface capital letters.
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The required notice must state: "NOTICE - THE PREMIUMS THAT YOU PAY FOR THIS POLICY MAY INCREASE IN THE FUTURE. IT IS IMPORTANT THAT YOU READ AND UNDERSTAND THIS POLICY."
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Maintains existing provisions allowing life insurance contracts with optional health insurance riders, provided the rider is filed with and approved by the Insurance Commissioner.
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Requires any company offering policies with health insurance riders in Connecticut to be licensed to sell health insurance under state law.
Legislative Description
An Act Concerning Disclosures For Universal Life Insurance Policies.
Last Action
House Calendar Number 386
4/19/2013