Bill > SB1184

This bill adds Section 785.5 to the Insurance Code, which aims to prevent conflicts of interest for insurance brokers and agents when assisting seniors with obtaining veterans benefits. Specifically, an insurance broker or agent is prohibited from being involved in or employing anyone who helps seniors get veterans benefits unless they have safeguards in place to ensure they do not financially benefit from referring clients to government-offered veterans benefit programs. This is important because it seeks to protect seniors from potentially being steered towards certain benefits by insurance professionals who might gain financially from such referrals, ensuring that the primary focus remains on the senior's best interests regarding their insurance needs and any government benefits they may be eligible for.