Introduced
by
To remove a prohibition on "limited death benefit" life insurance, defined as a policy in which the sum payable upon the insured's death is less than the amount necessary to cover the initial contract price of cemetery and funeral goods and services, but provides a minimum benefit at least equal to the total premiums paid plus interest during two year period which would be the maximum for such a policy.
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 36 to 0 (details)
Referred to the Committee on Insurance
Passed in the House 94 to 0 (details)
To remove a prohibition on "limited death benefit" life insurance, defined as a policy in which the sum payable upon the insured's death is less than the amount necessary to cover the initial contract price of cemetery and funeral goods and services, but provides a minimum benefit at least equal to the total premiums paid plus interest during two year period which would be the maximum for such a policy.
