Bill > A1064

Introduced Session

This bill requires an insurer to provide notice to the holder of an individual life insurance policy, and any producer of record on that policy, that the policy will lapse due to nonpayment of premium. The notice must be provided to the holder and any producer of record at least 10 days prior to the lapse of the policy and shall be accomplished by regular mail, electronic mail, and telephone to the holder of the life insurance policy and any producer of record, as appropriate, based on information provided by the insured and the producer and on record with the insurer. The notice required by the bill shall be in addition to any other notice concerning nonpayment of premium or lapse of the life insurance policy required under the terms of the policy.

Committee Categories

Jon Bramnick (R)*,  Patrick Diegnan (D)*,  Timothy Eustace (D)*,  Joe Lagana (D)*,  Shavonda Sumter (D)*,  Marlene Caride (D),  Angelica Jimenez (D),  Nancy Muñoz (R), 

Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 01/27/2016)