FL S0312

Reduces the minimum coursework requirement for licensure as a life insurance agent from 40 hours to 30 hours of approved coursework in life insurance, annuities, and variable contracts

Allows life or health insurers and their agents to offer value-added products or services at no or reduced cost without violating unfair discrimination or unlawful rebate prohibitions, provided the products or services relate to insurance coverage and meet specified purposes

Eligible value-added product/service purposes include loss mitigation, claim cost reduction, risk education and monitoring, health enhancement, financial wellness, post-loss services, incentivizing behavioral changes to improve health, and assisting in administration of employee or retiree benefit coverage

Permits insurers or agents to offer value-added products or services under a pilot or testing program for up to 1 year if they have a good faith belief but insufficient evidence the product meets the criteria, provided they notify the office or department and receive no objection within 21 days

Prohibits insurers, agents, or their representatives from offering life or health insurance as an inducement to purchase another policy or using words like "free" or "no cost" in advertisements, and authorizes the Financial Services Commission to adopt rules for consumer protection, data privacy, and disclosure