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CT SB00006

Bill

Official Source

Status

Introduced

2/5/2014

Primary Sponsor

Insurance and Real Estate Committee

Click for details

Origin

Senate

2014 General Assembly

AI Summary

  • Requires insurers to include a specific disclosure notice on universal life insurance policy covers before delivery to consumers in Connecticut
  • Disclosure must appear in at least 12-point boldface capital letters stating: "NOTICE - THE COST OF INSURANCE PAYMENT FOR THIS POLICY MAY INCREASE IN THE FUTURE. IT IS IMPORTANT THAT YOU READ AND UNDERSTAND THIS POLICY."
  • Effective date is October 1, 2014
  • Applies to all universal life insurance policies delivered or issued for delivery in Connecticut

Legislative Description

An Act Concerning Disclosures For Universal Life Insurance Policies.

Last Action

Public Hearing 02/18

2/13/2014

Committee Referrals

Insurance and Real Estate2/5/2014

Full Bill Text

No bill text available