HB 926 -- LIFE INSURANCE

This bill specifies that a company marketing life insurance with
illustrations needs to provide only the policy summary required
by the laws that govern marketing with illustrations.

HB 926 -- LIFE INSURANCE (Liese)

This bill specifies that a company marketing life insurance with
illustrations only needs to provide the policy summary required
by the laws that govern marketing with illustrations.

FISCAL NOTE:  No impact on state funds.

HB 926 -- LIFE INSURANCE

CO-SPONSORS:  Liese, Ward

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Insurance by a vote of 17 to 0.

This bill specifies that a company marketing life insurance with
illustrations only needs to provide the policy summary required
by the laws that govern marketing with illustrations.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that legislation passed last year
(Senate Bill 722) set new standards for marketing life insurance
with illustrations.  The new standards protect consumers by
requiring easy to read policy statements and realistic estimates
of life insurance benefits.  There is no need to require the
additional paper work of a long and redundant policy summary.

Testifying for the bill were Representatives Liese and Ward;
Life Insurance Association of Missouri; General American Life
Insurance; and Missouri Insurance Coalition.

OPPONENTS:  There was no opposition voiced to the committee.

Marty Romitti, Legislative Analyst

HB 926 -- Life Insurance

Co-Sponsors:  Liese, Ward

This bill specifies that a company marketing life insurance with
illustrations only needs to provide the policy summary required
by the laws that govern marketing with illustrations.