MS HB1391

Increases the maximum life insurance policy death benefit limit for industrial life insurers from $5,000 to $20,000 in aggregate value.

Exclusive of multiple indemnity benefits, industrial life insurers remain limited to the specified death benefit amount.

Maintains all other industrial life insurance policy limits unchanged, including disability benefits ($60/week), dismemberment/eyesight loss benefits ($5,000/year), and hospitalization/medical benefits ($3,500/year).

Takes effect July 1, 2014.