SB 865 Prohibits life insurers from taking underwriting actions or charging different rates based upon a person's past or future lawful travel destinations unless such action is based upon sound actuarial principles
Sponsor: Rupp Co-Sponsor(s)
LR Number: 3277S.04P Fiscal Note: 3277-04
Committee: Small Business, Insurance & Industrial Relations
Last Action: 5/16/2008 - H Calendar S Bills for Third Reading Journal Page:
Title: SCS SB 865 Calendar Position:
Effective Date: August 28, 2008
House Handler: Scharnhorst

Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 2008 Senate Bills

Current Bill Summary

SCS/SB 865 - Under this act, no life insurance company shall deny or refuse to accept an application for life insurance, refuse to renew, cancel, restrict, or otherwise terminate a policy of life insurance, or charge a different rate for the same life insurance coverage, based upon the applicant’s or insured’s past or future lawful travel destinations. Nothing in this section shall prohibit a life insurance company from denying an application for life insurance, or charging a different premium or rate for such coverage under such policy based on a specific travel destination where the denial or rate differential is based upon sound actuarial principles or is related to actual or reasonably anticipated experience. Under the act, a violation constitutes an unfair trade practice. The act provides that it shall apply to life insurance policies issued or renewed on or after August 28, 2008.

This act also creates an itemized income tax deduction for life insurance premium payments made for life insurance policies which have a special needs trust as the sole beneficiary.