Life insurance and annuities laws by state

HB 2076: life insurance; illustrations

Insurers marketing life insurance policies must identify to the director whether each policy form will be marketed with or without an illustration. Insurers must prepare and deliver basic illustrations complying with detailed format, content, and accuracy requirements. Illustration actuaries must certify annually that disciplined current scales and illustrated scales meet regulatory standards.

SB 519: To amend the standard nonforfeiture law for life insurance; and to regulate the payment of interest on deferred payment of any cash surrender value according to the terms of the policy.

Amends Arkansas's standard nonforfeiture law for life insurance to regulate interest payments on deferred cash surrender values according to policy terms, and changes the payment deadline from sixty days to forty-five days.

HB 1327: To amend the law concerning the eligibility of certain retired employees under the state and public school life and health insurance program.

State employee retirees and public school retirees must have participated in the State and Public School Life and Health Insurance Program for at least five cumulative years before retirement and be vested members of a specified retirement system to qualify for enrollment. Active retirees must elect to enroll within thirty days of becoming an active retiree in writing to the Employee Benefits Division.

HB 1488: To amend the standard nonforfeiture law for life insurance; and to require an insurer to pay interest on deferred payment of any cash surrender value under certain policies.

Amends Arkansas's standard nonforfeiture law for life insurance and requires insurers to pay interest on deferred payments of cash surrender value under certain policies.

HB 1161: To clarify the law concerning an election to change annuity options within one year of retirement under the arkansas teacher retirement system; and to declare an emergency.

A retiree of the Arkansas Teacher Retirement System who retired on or after July 1, 1994, may elect to change annuity options within one year of retirement by filing a new election form with the system and repaying the difference between annuities received plus interest, calculated retroactively to July 1, 1994, or the retiree's retirement date, whichever is later. The election to change may be made only one time.

HB 1209: For the proper administration of benefits by the arkansas judicial retirement system regarding the subjection of annuity rights to process of law and correction of errors.

The Executive Director of the Arkansas Judicial Retirement System must correct errors in system records and adjust payments to provide the actuarial equivalent of entitled benefits. The system must recover overpayments determined within five years of the last overpayment and pay underpayments in lump sum regardless of determination date.

AB 1798: Genetic testing for life and disability insurance.

Life or disability insurers must not cancel, limit, deny coverage, or make adverse underwriting decisions based on genetic characteristics or genetic test results, except for life or disability policies with face value exceeding $1,500,000 where test results are in the medical record and not from direct-to-consumer tests. Insurers must not require, request, or use genetic information for insurance purposes.

Takes effect 1 January 2027

SB 1206: Insurance: omnibus.

Licensees must become inactive if dissolved, forfeited, terminated, canceled, or surrendered by the Secretary of State. Public adjusters must deposit fiduciary funds within 15 calendar days (or 7 days for catastrophic disasters) and remit settlement funds within 30 calendar days (or 15 days for catastrophic disasters). Licensees must promptly respond to commissioner inquiries within 21 days.

Takes effect 1 January 2027

SB 488: An act implementing the treasurer's recommendations for revisions to the unclaimed property program and second injury fund.

Holders of unclaimed property must notify owners between July 1 and September 30 before presuming abandonment, report abandoned property to the Treasurer by March 31, and retain records for ten years. Holders of tangible personal property must sell it and remit proceeds within thirty days. Persons locating unclaimed property for fees cannot charge more than ten percent and must disclose terms clearly.

Took effect 1 July 2026

SB 478: An act concerning consumer safeguards for long-term care policies.

Issuers of long-term care insurance policies must maintain a loss ratio of at least sixty percent for individual policies and sixty-five percent for group policies. Issuers must not approve rate increases exceeding the average rate increase at precertification. Rate increases of twenty percent or more must be spread over at least three years. Issuers must provide policyholders thirty days to reduce benefits or elect affordable options.

Took effect 1 July 2026

HB 299: An act to amend title 18 of the delaware code relating to life insurance policy exclusions and restrictions based on death resulting from suicide.

Insurers must not deliver or issue life insurance policies in Delaware that exclude or restrict coverage for death by suicide for more than 1 year from the date of policy issue. If an insurer denies a death benefit because the insured died by suicide within 1 year of issue, the insurer must refund all premiums paid for the coverage providing the denied benefit.

Takes effect 30 March 2027

HB 1234: State Employees' Assurance Department; assignment of certain group term life insurance benefits to pay for funeral services of a deceased individual who was a member of certain retirement systems; provisions

The State Employees' Assurance Department shall pay group term life insurance benefits assigned by named beneficiaries to licensed funeral directors or embalmers to pay funeral services costs for deceased members of the Employees' Retirement System of Georgia, Georgia Legislative Retirement System, or Georgia Judicial Retirement System. Named beneficiaries must authorize assignments in writing with notarized funeral service contracts and death certificates.

SB 109: Life Insurance; a policy of group life insurance from excluding or restricting liability for certain deaths occurring while an individual is an active duty service member; prohibit

Insurers shall not deliver or issue for delivery in this state any policy of group life insurance that excludes or restricts liability for death occurring while the insured is a service member of the regular or reserve component of the armed forces of the United States, unless such death results directly or indirectly from war, declared or undeclared, or any act or hazard of such war.

SB 2872: Contingent deferred annuities

Subsections (3) through (8) of the Standard Nonforfeiture Law for Individual Deferred Annuities shall not apply to contingent deferred annuities. The Director of Insurance has authority to adopt rules establishing nonforfeiture benefits for contingent deferred annuities that are equitable to contract holders, appropriate given risks insured, and consistent with the general intent of the provisions.

HB 1081: Distributions to charitable beneficiaries.

Financial institutions and insurance companies must transfer funds directly to charitable organizations designated as beneficiaries of retirement accounts, transfer on death accounts, annuities, or life insurance policies upon receipt of a specified affidavit. They must not require personal information about the organization's employees or officers, nor require the organization to become a customer.

Took effect 1 July 2025

HF 2633: A bill for an act relating to living organ donors and life insurance, disability insurance, and long-term care insurance.

HF 2232: A bill for an act relating to life insurance, permissible third parties, and financial exploitation of eligible adults.

Insurers must delay disbursements or transactions from eligible adults' policies if they reasonably believe financial exploitation is likely, notify authorized persons within seven business days, and notify the commissioner within seven business days. Insurers must provide training to supervisors and employees by June 30, 2027, and provide records to the commissioner and law enforcement upon request.

SF 2215: A bill for an act relating to the applicability of the standard nonforfeiture law for individual deferred annuities to contingent deferred annuities.

Subsections 2 through 7 of Code section 508.38 shall not apply to contingent deferred annuities. The commissioner of insurance may prescribe by rules nonforfeiture benefits for contingent deferred annuities that the commissioner deems equitable to policyholders and appropriate for the risks insured.

Took effect 1 July 2026

HB 2540: Exempting contingent deferred annuities from certain requirements of the standard nonforfeiture law for individual deferred annuities act and authorizing the commissioner of insurance to establish nonforfeiture benefits for such contingent deferred annuities through rules and regulations.

The commissioner of insurance must prescribe nonforfeiture benefits for contingent deferred annuities through adoption of rules and regulations. These benefits must be equitable to the policyholder, appropriate given the risks insured, and consistent with the standard nonforfeiture law for individual deferred annuities act to the extent possible. Contingent deferred annuities are exempted from provisions of K.S.A. 40-4,103 through 40-4,108.

HB 527: AN ACT relating to insurance regulatory requirements and declaring an emergency.

The act amends Kentucky insurance regulatory definitions and requirements. Insurers must consider complaints before issuing or renewing certificates of authority or licenses. Licensed business entities must designate individuals to act under their licenses and maintain at least one designated licensee at all times. Financial institutions engaging in insurance activities must comply with all applicable licensing provisions and provide required consumer disclosures.

SB 509: INSURANCE DEPARTMENT: Provides relative to bank-owned life insurance. (8/1/26)

LD 2022: An Act To Clarify The Setting Of Group Life Insurance Coverage Levels Under The Maine Public Employees Retirement System

Clarifies that annual base compensation for setting group life insurance coverage levels under the Maine Public Employees Retirement System uses amounts reported on the previous year's federal wage and tax statement as of April 1st.

LD 867: An Act Regarding Pre-Need Funeral Insurance

Producers must adequately disclose eight categories of information to applicants before accepting initial premium or deposit for pre-need insurance funding a prearranged funeral service or plan, including the policy's involvement, relationships, guarantees, goods and services with pricing, and compensation. Funeral homes may not solicit prearranged funeral agreements except through permitted contact or general advertising.

SB 956: Health Insurance - Medicare Supplement Policies - Insurance Producer Commission

A carrier must pay the same commission rate to a broker for the sale of a Medicare supplement policy sold during a guaranteed issue period as for a Medicare supplement policy sold during an open enrollment period. This applies to Medicare policies issued under specified statute or to individuals at least 65 years old.

Took effect 1 October 2025

HB 1007: Disability and Life Insurance - Medical Information (Genetic Testing Protection Act)

Insurance carriers offering life, long-term care, or disability insurance in Maryland may not unfairly discriminate based on medical information lacking actuarially sound relationship to insurance risk. Carriers may not access sensitive medical information or genetic data without written consent, mandate genetic testing or genome sequencing, or use genetic test results to deny, limit, cancel, or affect coverage.

Took effect 1 October 2025

HB 1069: Life and Health Insurance Policies and Annuity and Health Maintenance Organization Contracts - Discretionary Clauses - Prohibition

Carriers, defined as insurers, nonprofit health service plans, and health maintenance organizations, may not sell, deliver, or issue health insurance policies, life insurance policies, annuity contracts, or disability insurance policies in Maryland if the policy contains a clause reserving sole discretion to the carrier to interpret policy terms or providing standards of interpretation inconsistent with Maryland law.

Took effect 1 October 2025

HB 1713: State Sponsored Life Insurance Program; provide for National Guard members.

The Adjutant General of Mississippi shall serve as official sponsor and facilitate the State Sponsored Life Insurance Program for Mississippi National Guard members in coordination with the National Guard Association of Mississippi. Program representatives may conduct briefings during training periods. Participation is voluntary.

Took effect 1 July 2026

S 7222: Relates to indexing fixed amounts and clarifying compliance

Life insurance companies must comply with indexed limits on training allowance subsidies for agents, with maximum cumulative subsidies of fifty-four thousand dollars in year one, eighty-five thousand dollars in year two, one hundred five thousand dollars in year three, and one hundred sixteen thousand dollars in year four. Companies must notify the superintendent within ninety days if they make payments exceeding subsection (d) limits and cannot recover them.

SB 803: Relating to the state-sponsored life insurance program for Oregon National Guard members.

Authorizes the Adjutant General to make a group life insurance program available to Oregon National Guard members, allow them to purchase products from it, and permit program representatives to provide briefings during duty training periods.

Took effect 1 January 2026

S 857: Contingent Deferred Annuities

Defines contingent deferred annuities as annuity contracts establishing a life insurer's obligation to make lifetime periodic payments when designated investments are depleted to a contractually defined amount. Exempts contingent deferred annuities from standard nonforfeiture law requirements while allowing the Department of Insurance to establish nonforfeiture benefits regulations.

HB 1101: prohibit an insurer from declining or limiting life, disability, or long-term care insurance policies based solely on an individual's status as a living organ donor.

An insurer may not decline, limit, or discriminate in offering, issuing, canceling, setting coverage amounts, pricing, or conditioning any life, disability, or long-term care insurance policy based solely on an individual's status as a living organ donor, without additional actuarial risk.

Took effect 1 July 2026

SB 1270: Insurance Companies, Agents, Brokers, Policies - As enacted, requires a health benefit plan issuer to provide no later than 30 days after a health benefit plan issuer receives a written request for a claims experience report from a plan, plan sponsor, or plan administrator, the report to the requesting party; prohibits coverage by a commercial risk insurance policy of farm risks or real or personal property used in farming from being considered in determining whether property is classified as farm or agricultural property under another law or rule in this state; revises provisions relating to reinsurance and risk insurance; revises provisions relating to the readability, content, and style of life and health insurance policies. - Amends TCA Title 56 and Section 68-1-115.

A health benefit plan issuer must provide a claims experience report to a plan, plan sponsor, or plan administrator within 30 days of receiving a written request. Coverage of farm risks or property used in farming by a commercial risk insurance policy must not be considered in determining whether property is classified as farm or agricultural property under state law or rules.

HB 1045: Insurance Companies, Agents, Brokers, Policies - As enacted, clarifies that the exemption from claims of creditors for the net amount payable under a policy of life insurance or under an annuity contract upon the life of a person made for the benefit of, or assigned to, the spouse, children, or dependent relatives of the person includes claims through execution, attachment, seizure, and garnishment, and that use of exempt funds does not change the classification of the funds used from exempt to nonexempt. - Amends TCA Title 56.

Amends TCA 56-7-203 to clarify that life insurance and annuity proceeds exempt from creditors' claims include claims through execution, attachment, seizure, and garnishment, and that using exempt funds does not change their exempt classification.

Took effect 1 July 2025

HB 2221: Relating to certain trade practices related to life insurance, annuity contracts, and accident and health coverage.

Insurers, health maintenance organizations, and agents must not offer rebates, special favors, or valuable inducements not specified in policies to enter life insurance, annuity, or accident and health contracts. They may offer loss-control or value-added products at reasonable cost with documented objective criteria, and promotional items valued at $25 or less.

Took effect 1 September 2025

HB 4386: Relating to the exchange or surrender of an annuity contract.

Existing insurers must transfer annuity contract value to replacing insurers within 30 business days of receiving an exchange request notice, unless the contract permits deferral, parties agree otherwise, law requires different timing, or fraud is suspected. Insurers must transfer cash surrender value to contract owners within 30 business days of receiving a surrender request under similar exceptions.

Took effect 1 September 2025

HB 1041: Relating to the insurable interest of certain persons providing care to individuals with disabilities in the life of those individuals.

A person providing care to an individual with a disability at a state supported living center, assisted living facility, intermediate care facility, or group home must not have insurable interest in the life of that individual unless the person is a relative related within the third degree by consanguinity or affinity.

SB 166: Insurance; contingent deferred annuities, nonforfeiture benefits.

Defines contingent deferred annuities as annuities establishing an insurer's obligation to make periodic payments upon depletion of designated investments to a specified amount. Exempts contingent deferred annuities from nonforfeiture benefit requirements, allowing the Commission to adopt reasonable standards for them.

Took effect 1 July 2026

HB 60: Life or health insurances; unfair discrimination, pre-exposure prophylaxis for prevention of HIV.

No person shall unfairly discriminate in life insurance, health insurance, or accident and sickness insurance based on specified protected characteristics. Specifically, insurers must not refuse coverage, limit coverage, or charge different rates based solely on an individual's status as a recipient of pre-exposure prophylaxis for HIV prevention, without additional actuarial risks.

Took effect 1 July 2026

HB 2428: Preventing unintentional lapses and cancellations of life insurance policies.

Insurers must send written notice of possible termination at least 30 days before coverage lapses due to nonpayment. Insurers must notify applicants of the right to designate a third party to receive lapse notices and must send notices to any designated third party. These requirements apply to individual life insurance policies issued on or after January 1, 2027, except group policies, monthly-payment policies, and term policies of one year or less.

Takes effect 1 January 2027

AB 700: Relating to: an appropriation for refundable long-term care insurance assessment credits and making an appropriation. (FE)

Amends the appropriation for refundable long-term care insurance assessment credits to provide a sum sufficient to make payments under specified tax credit provisions in sections 71.07, 71.28, 71.47, and 76.633.