DE HB378

Authorizes life insurers to issue funding agreements without requiring additional capital or surplus, alongside annuities.

Defines a "funding agreement" as an agreement where an insurer accepts and accumulates funds and makes future payments not based on mortality or morbidity contingencies.

Excludes funding agreements from premium tax calculations and gross direct premium income reporting requirements.

Removes funding agreements from the scope of Chapter 27 insurance contract regulations.

Clarifies that funding agreement claims receive the same priority as insurance policy claims in insurer delinquency proceedings.