Bill > SB5495

This bill modifies two existing laws related to life insurance policies by reducing the suicide exclusion period from two years to one year. Specifically, the bill changes two sections of the Revised Code of Washington (RCW): RCW 48.23.260 and RCW 48.34.090. In life insurance policies, insurers are currently allowed to limit their liability in cases of death resulting from war, military service, or suicide within two years of the policy's issuance. The bill reduces the suicide exclusion period to one year, meaning that if an insured person dies by suicide within one year of the policy's issue date, the insurance company can limit its liability. The bill also specifies that these changes will apply to life insurance policies issued or renewed on or after January 1, 2026. This modification aims to provide more consumer-friendly terms by shortening the period during which an insurance company can deny full benefits in the event of suicide, potentially making life insurance policies more attractive to consumers.

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https://app.leg.wa.gov/billsummary?BillNumber=5495&Year=2025&Initiative=false