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MN SF748

Bill

Official Source

Status

Passed

5/15/2013

Primary Sponsor

Daniel Sparks

Click for details

Origin

Senate

88th Legislature 2013-2014

AI Summary

  • Exempts preneed funeral insurance policies from Minnesota's graded death benefit requirements under section 72A.207
  • Adds a new subdivision to section 61A.258 specifying that preneed insurance policies are not subject to graded death benefit regulations
  • Amends section 72A.207 to clarify that policies designed to cover funeral goods and services are excluded from the four-times-first-year-premium minimum graded death benefit requirement
  • Maintains existing protections for premium returns and exclusions related to policy rescission, suicide, aviation, and war risk

Legislative Description

Preneed funeral insurance regulations

Last Action

Secretary of State Chapter 53 05/13/13

5/15/2013

Committee Referrals

Commerce2/25/2013

Full Bill Text

No bill text available