OH HB476

Superintendent of Insurance shall establish a statewide life insurance database containing information on all life insurance policies delivered or issued for delivery in Ohio.

Database information is accessible only after the insured's death and only to beneficiaries named in the insured's will or, if intestate, to the spouse or next of kin.

Life insurance companies operating in Ohio must provide required information to the Superintendent within 30 days after delivering or issuing a life insurance policy.

Superintendent has authority to determine what specific information must be included in the database and may adopt rules necessary to establish and implement it.

Life insurance companies that issued policies prior to this act must submit information within 30 days after the Superintendent establishes the database.