| 1 | 1 | | CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2401Introduced by Committee on Insurance (Assembly Members Daly (Chair), Mayes (Vice Chair), Berman, Bigelow, Calderon, Chen, Cooley, Cooper, Frazier, Gipson, Kamlager, Voepel, and Wood)February 18, 2020 An act to amend Sections 10113.71 and 10113.72 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGESTAB 2401, as introduced, Committee on Insurance. Life insurance: nonpayment premium notice: lapse.Existing law requires a life insurance policy, including an individual or group policy, issued or delivered in this state to contain a provision for a grace period of not less than 60 days from the premium due date and to provide that the policy remains in force during that grace period.Existing law also requires an insurer to give an applicant for an individual life insurance policy the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. Existing law requires an insurer to provide each applicant with a form, as specified, to make the designation and to notify the policy owner annually of the right to change the designation.Existing law prohibits a notice of pending lapse and termination of a policy from being effective unless mailed by the insurer to the named policy owner, a named designee for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy at least 30 days prior to the effective date of termination if termination is for nonpayment of premium. This bill would state that these requirements apply to a life insurance policy, as specified, that is issued or delivered in this state on or after January 1, 2013. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 10113.71 of the Insurance Code is amended to read:10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section.SEC. 2. Section 10113.72 of the Insurance Code is amended to read:10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 3 | 3 | | CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2401Introduced by Committee on Insurance (Assembly Members Daly (Chair), Mayes (Vice Chair), Berman, Bigelow, Calderon, Chen, Cooley, Cooper, Frazier, Gipson, Kamlager, Voepel, and Wood)February 18, 2020 An act to amend Sections 10113.71 and 10113.72 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGESTAB 2401, as introduced, Committee on Insurance. Life insurance: nonpayment premium notice: lapse.Existing law requires a life insurance policy, including an individual or group policy, issued or delivered in this state to contain a provision for a grace period of not less than 60 days from the premium due date and to provide that the policy remains in force during that grace period.Existing law also requires an insurer to give an applicant for an individual life insurance policy the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. Existing law requires an insurer to provide each applicant with a form, as specified, to make the designation and to notify the policy owner annually of the right to change the designation.Existing law prohibits a notice of pending lapse and termination of a policy from being effective unless mailed by the insurer to the named policy owner, a named designee for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy at least 30 days prior to the effective date of termination if termination is for nonpayment of premium. This bill would state that these requirements apply to a life insurance policy, as specified, that is issued or delivered in this state on or after January 1, 2013. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO |
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| 9 | 9 | | CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION |
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| 11 | 11 | | Assembly Bill |
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| 13 | 13 | | No. 2401 |
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| 15 | 15 | | Introduced by Committee on Insurance (Assembly Members Daly (Chair), Mayes (Vice Chair), Berman, Bigelow, Calderon, Chen, Cooley, Cooper, Frazier, Gipson, Kamlager, Voepel, and Wood)February 18, 2020 |
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| 17 | 17 | | Introduced by Committee on Insurance (Assembly Members Daly (Chair), Mayes (Vice Chair), Berman, Bigelow, Calderon, Chen, Cooley, Cooper, Frazier, Gipson, Kamlager, Voepel, and Wood) |
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| 18 | 18 | | February 18, 2020 |
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| 20 | 20 | | An act to amend Sections 10113.71 and 10113.72 of the Insurance Code, relating to insurance. |
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| 21 | 21 | | |
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| 22 | 22 | | LEGISLATIVE COUNSEL'S DIGEST |
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| 23 | 23 | | |
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| 24 | 24 | | ## LEGISLATIVE COUNSEL'S DIGEST |
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| 25 | 25 | | |
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| 26 | 26 | | AB 2401, as introduced, Committee on Insurance. Life insurance: nonpayment premium notice: lapse. |
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| 27 | 27 | | |
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| 28 | 28 | | Existing law requires a life insurance policy, including an individual or group policy, issued or delivered in this state to contain a provision for a grace period of not less than 60 days from the premium due date and to provide that the policy remains in force during that grace period.Existing law also requires an insurer to give an applicant for an individual life insurance policy the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. Existing law requires an insurer to provide each applicant with a form, as specified, to make the designation and to notify the policy owner annually of the right to change the designation.Existing law prohibits a notice of pending lapse and termination of a policy from being effective unless mailed by the insurer to the named policy owner, a named designee for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy at least 30 days prior to the effective date of termination if termination is for nonpayment of premium. This bill would state that these requirements apply to a life insurance policy, as specified, that is issued or delivered in this state on or after January 1, 2013. |
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| 30 | 30 | | Existing law requires a life insurance policy, including an individual or group policy, issued or delivered in this state to contain a provision for a grace period of not less than 60 days from the premium due date and to provide that the policy remains in force during that grace period. |
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| 32 | 32 | | Existing law also requires an insurer to give an applicant for an individual life insurance policy the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. Existing law requires an insurer to provide each applicant with a form, as specified, to make the designation and to notify the policy owner annually of the right to change the designation. |
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| 33 | 33 | | |
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| 34 | 34 | | Existing law prohibits a notice of pending lapse and termination of a policy from being effective unless mailed by the insurer to the named policy owner, a named designee for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy at least 30 days prior to the effective date of termination if termination is for nonpayment of premium. |
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| 35 | 35 | | |
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| 36 | 36 | | This bill would state that these requirements apply to a life insurance policy, as specified, that is issued or delivered in this state on or after January 1, 2013. |
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| 37 | 37 | | |
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| 38 | 38 | | ## Digest Key |
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| 39 | 39 | | |
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| 40 | 40 | | ## Bill Text |
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| 42 | 42 | | The people of the State of California do enact as follows:SECTION 1. Section 10113.71 of the Insurance Code is amended to read:10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section.SEC. 2. Section 10113.72 of the Insurance Code is amended to read:10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 44 | 44 | | The people of the State of California do enact as follows: |
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| 46 | 46 | | ## The people of the State of California do enact as follows: |
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| 48 | 48 | | SECTION 1. Section 10113.71 of the Insurance Code is amended to read:10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 49 | 49 | | |
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| 50 | 50 | | SECTION 1. Section 10113.71 of the Insurance Code is amended to read: |
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| 52 | 52 | | ### SECTION 1. |
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| 53 | 53 | | |
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| 54 | 54 | | 10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 56 | 56 | | 10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 58 | 58 | | 10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period.(b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium.(2) This subdivision shall does not apply to nonrenewal.(3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee.(c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided.(c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 62 | 62 | | 10113.71. (a) Each A life insurance policy issued or delivered in this state shall contain a provision for a grace period of not less than 60 days from the premium due date. The 60-day grace period shall not run concurrently with the period of paid coverage. The provision shall provide that the policy shall remain in force during the grace period. |
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| 63 | 63 | | |
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| 64 | 64 | | (b) (1) A notice of pending lapse and termination of a life insurance policy shall not be effective unless mailed by the insurer to the named policy owner, a designee named pursuant to Section 10113.72 for an individual life insurance policy, and a known assignee or other person having an interest in the individual life insurance policy, at least 30 days prior to the effective date of termination if termination is for nonpayment of premium. |
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| 66 | 66 | | (2) This subdivision shall does not apply to nonrenewal. |
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| 68 | 68 | | (3) Notice shall be given to the policy owner and to the designee by first-class United States mail within 30 days after a premium is due and unpaid. However, notices made to assignees pursuant to this section may be done electronically with the consent of the assignee. |
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| 70 | 70 | | (c)For purposes of this section, a life insurance policy includes, but is not limited to, an individual life insurance policy and a group life insurance policy, except where otherwise provided. |
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| 74 | 74 | | (c) This section applies to a life insurance policy, including a group or individual policy, that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 76 | 76 | | SEC. 2. Section 10113.72 of the Insurance Code is amended to read:10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 77 | 77 | | |
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| 78 | 78 | | SEC. 2. Section 10113.72 of the Insurance Code is amended to read: |
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| 79 | 79 | | |
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| 80 | 80 | | ### SEC. 2. |
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| 82 | 82 | | 10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 84 | 84 | | 10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 86 | 86 | | 10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium.(b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so.(c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid.(d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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| 90 | 90 | | 10113.72. (a) An individual life insurance policy shall not be issued or delivered in this state until the applicant has been given the right to designate at least one person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium. The insurer shall provide each applicant with a form to make the designation. That form shall provide the opportunity for the applicant to submit the name, address, and telephone number of at least one person, in addition to the applicant, who is to receive notice of lapse or termination of the policy for nonpayment of premium. |
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| 92 | 92 | | (b) The insurer shall notify the policy owner annually of the right to change the written designation or designate one or more persons. The policy owner may change the designation more often if he or she the policy owner chooses to do so. |
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| 93 | 93 | | |
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| 94 | 94 | | (c) No An individual life insurance policy shall not lapse or be terminated for nonpayment of premium unless the insurer, at least 30 days prior to the effective date of the lapse or termination, gives notice to the policy owner and to the person or persons designated pursuant to subdivision (a), at the address provided by the policy owner for purposes of receiving notice of lapse or termination. Notice shall be given by first-class United States mail within 30 days after a premium is due and unpaid. |
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| 95 | 95 | | |
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| 96 | 96 | | (d) This section applies only to an individual life insurance policy that is issued or delivered in this state on or after January 1, 2013, the effective date of this section. |
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