Bill Text: IA HF132 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act relating to notifications by life insurance companies to policyholders of changes in premiums.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2019-01-25 - Introduced, referred to Commerce. H.J. 154. [HF132 Detail]
Download: Iowa-2019-HF132-Introduced.html
House
File
132
-
Introduced
HOUSE
FILE
132
BY
STAED
,
KURTH
,
and
GASKILL
A
BILL
FOR
An
Act
relating
to
notifications
by
life
insurance
companies
to
1
policyholders
of
changes
in
premiums.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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132
Section
1.
Section
508.25,
Code
2019,
is
amended
to
read
as
1
follows:
2
508.25
Policy
forms
——
approval.
3
It
shall
be
unlawful
for
any
insurance
company
transacting
4
business
within
this
state,
under
the
provisions
of
this
5
chapter
,
to
write
do
any
of
the
following:
6
1.
Write
or
use
any
form
of
policy
or
contract
of
insurance,
7
on
the
life
of
any
individual
in
this
state,
until
a
copy
8
of
such
form
of
policy
or
contract
has
been
filed
with
and
9
approved
by
the
commissioner
of
insurance.
10
2.
Fail
to
provide
at
least
thirty
calendar
days’
advance
11
written
notice,
by
certified
mail
to
a
policyholder’s
last
12
known
address,
prior
to
a
change
in
the
policyholder’s
premium.
13
3.
Terminate
a
policyholder’s
coverage
for
failure
to
pay
a
14
premium
if
notification
pursuant
to
subsection
2
is
not
given
15
to
the
policyholder.
16
EXPLANATION
17
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
18
the
explanation’s
substance
by
the
members
of
the
general
assembly.
19
This
bill
relates
to
notifications
by
life
insurance
20
companies
to
policyholders
of
changes
in
premiums.
21
The
bill
requires
an
insurance
company
to
provide
at
least
30
22
calendar
days’
advance
written
notice
to
a
policyholder
of
a
23
change
in
the
policyholder’s
premium.
The
notice
must
be
sent
24
by
certified
mail
to
the
policyholder’s
last
known
address
and
25
the
insurance
company
cannot
terminate
coverage
if
the
notice
26
has
not
been
sent
as
required.
27
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