SCS HB 1739 -- LIFE INSURANCE

This bill requires the Department of Insurance to promulgate
regulations governing the valuation of life insurance policies.
The bill allows the department to adopt model regulations
prepared by the National Association of Insurance Commissioners.

The bill also adds federal home loan banks to the list of
financial institutions in which life insurance companies may
invest.

HB 1739 -- LIFE INSURANCE (Auer)

This bill adds federal home loan banks to the list of financial
institutions in which life insurance companies may invest.

FISCAL NOTE:  No impact on state funds.

HB 1739 -- LIFE INSURANCE

SPONSOR:  Auer

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Insurance by a vote of 13 to 0.

This bill adds federal home loan banks to the list of financial
institutions in which life insurance companies may invest.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this type of investment is not
specifically disallowed now, but it is not specifically
permitted either.  So this change is needed to clarify that life
insurance companies can have access to this cheaper credit.  It
will help improve the liquidity of life insurance companies.

Testifying for the bill were Representative Auer; and Kansas
City Life Insurance Company.

OPPONENTS:  There was no opposition voiced to the committee.

Richard Smreker, Legislative Analyst

HB 1739 -- Life Insurance

Sponsor:  Auer

This bill adds federal home loan banks to the list of financial
institutions in which life insurance companies may invest.