summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the designation of beneficiaries for life insurance policies. Financial Services.
AI Summary
This bill amends the existing insurance laws in Massachusetts to modernize the process for changing the designated beneficiary of a life insurance or endowment policy. It requires that any written request to change the beneficiary must be witnessed by a disinterested party (someone over 18 who is not a named beneficiary), and any electronic or telephonic request must be verified by the insurance company. The insurance company must also provide written notice of the change to the policy owner at their last known address.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H1074 |
| Bill | https://malegislature.gov/Bills/191/H1074.pdf |
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