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HI SB2016
Bill
Status
Engrossed
2/10/2010
Primary Sponsor
Rosalyn Baker
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AI Summary
- Extends the existing ban on stranger-oriented life insurance transactions through June 16, 2015
- Prevents the commodification of life insurance policies and protects against abuse in the stranger-oriented life insurance market
- Preserves the traditional insurance principle requiring insurable interest between a policyholder and the insured person
- Addresses concerns that stranger-oriented policies allow gambling on human life and subvert fundamental insurance concepts
- Received support from the Department of Commerce and Consumer Affairs, National Association of Life Insurance and Financial Advisors Hawaii, and the American Council of Life Insurers
Legislative Description
Life Settlements; Life Insurance
Last Action
(H) Referred to CPC, FIN, referral sheet 27
2/12/2010
Committee Referrals
Commerce and Consumer Protection1/20/2010
Full Bill Text
No bill text available