HB 6115 Summary

• Prohibits life or accident insurers from owning, managing, or operating funeral establishments or allowing officers and employees to own funeral establishments.

• Allows life insurers to issue life insurance policies with assigned proceeds to pay for cemetery or funeral services under strict conditions, including written assignment forms, revocability rights, and disclosure requirements.

• Restricts funeral establishments, cemeteries, and sellers to limited life insurance producer licensure only when they provide written assurance of compliance with statutory conditions and agree not to sell other insurance types.

• Requires life insurance producers associated with funeral establishments to disclose conflicts of interest, offer alternative prepaid funeral contracts, and ensure sales are not conditioned on insurance purchases or service assignments.

• Establishes penalties including misdemeanor charges (up to $1,000 fine and 6 months imprisonment) and civil fines up to $10,000, with fines deposited into a funeral consumers education and advocacy fund.