Texas House Passes Life Premium Change Disclosure Bill
April 24, 2019 by Joseph D'Allegro
The Texas House of Representatives today approved a bill that could set new disclosure requirements for issuers of permanent life insurance.
House members passed the bill by a vote of 147 to 0. Two other members were present but did not vote on the bill.
The bill, House Bill 207, would establish disclosure standards that would apply when life insurers make some kinds of changes to some kinds of life policy charges on or after Jan. 1, 2020.
The bill would not apply to individual or group annuity contracts, to credit life insurance, or to bank-owned or corporate-owned life insurance.