ID H0244

Requires insurers to offer applicants the option to designate one additional person to receive notice of policy lapse or termination for nonpayment of premium before issuing or delivering an individual life insurance policy in Idaho

Designations must be made on insurer-provided forms that include the designee's full name, address, and telephone number, with policy owners able to change designees or update contact information at any time

Insurers must provide annual notice to policy owners regarding their right to make, change, or update designee information

Prohibits individual life insurance policies from lapsing or terminating for nonpayment unless the insurer sends notice by first-class mail to both the policy owner and designated person at least 14 days prior to the effective lapse or termination date

Applies to individual life insurance policies issued or in force on or after January 1, 2018, except for policies with monthly or more frequent premium payments