HOUSE BILL 503
Life insurance, notice
LIFE INSURANCE – Amends existing law to provide an option for certain lapse and termination notices to be sent by certified mail.
RS31148 / H0503
This legislation proposes an amendment to Chapter 18, Title 41 of the Idaho Code concerning the "Notice of Lapse or Termination of Individual Life Insurance." It aims to grant the policy owner and any designated third party the option, at no cost, to request that all lapsing life insurance policies receive a notice of lapse via certified United States mail with return receipt, ten (10) days before the lapse takes effect. The responsibility for the certified mailing costs would fall on the insurance company whenever a policy lapses due to non-payment, termination, or the end of the term policy.
| Date | Description |
|---|---|
| 02/08 | Introduced, read first time, referred to JRA for Printing |
| 02/09 | Reported Printed and Referred to Business |