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MA S760
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Barry Finegold
Click for details
AI Summary
- Amends Section 123 of Chapter 175 of the General Laws to permit life insurance beneficiary changes through online tools without requiring a disinterested witness signature
- Requires insurance companies to take reasonable steps to verify the identity and intention of the person requesting an online beneficiary change
- Permits insurers to use remote technologies such as phone or videoconference to verify identity
- Defines a disinterested witness as someone over 18 years of age who is not designated as a beneficiary in the requested change
- Allows insurers to send confirmation of beneficiary changes via email when the change was requested through an online tool, rather than requiring written notice by mail
Legislative Description
Allowing for the use of an online tool to change life insurance beneficiaries
Last Action
Bill reported favorably by committee and referred to the committee on Senate Ways and Means
1/8/2026
Committee Referrals
Ways and Means1/8/2026
Financial Services2/27/2025
Full Bill Text
No bill text available