MO SB164

Increases the foreign investment limit for Missouri insurance companies from 5% to 20% of admitted assets, with a 10% cap per foreign jurisdiction rated SVO "1" and 5% for other jurisdictions

Exempts up to $15,000 of matured life insurance proceeds from bankruptcy attachment when used for funeral, cremation, or burial expenses of a spouse, child, or parent of the beneficiary

Establishes the "Standard Valuation Law" creating new reserve valuation requirements for life insurance, annuity, accident and health, and deposit-type contracts issued after the operative date of a valuation manual adopted by NAIC

Modifies qualified spousal trust provisions to clarify that all property held in such trusts receives the same creditor protection as tenants-by-entirety property, regardless of how it was titled before transfer to the trust

Adds new investment concentration limits prohibiting domestic insurers from holding more than 5% of admitted assets in investments from a single person, and caps Canadian investments at 25% of admitted assets