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ID H0881

Bill

Official Source

Status

Introduced

3/12/2026

Primary Sponsor

Ways and Means Committee

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Extends the required notice period before a life insurance policy can lapse or terminate for nonpayment from 14 days to 60 days
  • Removes the requirement for applicants to provide a telephone number when designating a person to receive lapse/termination notices
  • Creates new option for policy owners with policies exceeding $100,000 face value to request certified mail or commercial delivery service notification, with costs up to $40 charged to the policy owner
  • Requires written requests for certified mail notification be submitted at least 90 days prior to lapse or termination, with insurers providing written acknowledgment
  • Effective date of January 1, 2027, applying to policies issued or in force on or after that date (excludes policies with monthly or more frequent premium payments)

Legislative Description

Amends existing law to revise provisions regarding notice of lapse or termination of individual life insurance.

INSURANCE

Last Action

Reported Printed and Referred to Business

3/12/2026

Committee Referrals

Business3/12/2026

Full Bill Text

No bill text available