summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to increase maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association. Financial Services.
AI Summary
This bill proposes to increase the maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association from $100,000 to $500,000, and from $300,000 to $500,000 in certain cases. Annuity benefit insurance provides financial protection for individuals who have purchased annuity contracts from insurance companies that become insolvent. The bill aims to enhance the coverage available to consumers in such situations.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H4705 (on 06/03/2024)
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/193/H1153 |
| BillText | https://malegislature.gov/Bills/193/H1153.pdf |
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