Virginia Life, Accident & Sickness Insurance Guaranty Association; increase life insurance coverage. (SB917)
Introduced By
Sen. Ryan McDougle (R-Mechanicsville)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Life, Accident and Sickness Insurance Guaranty Association. Increases the maximum amount of coverage provided by the Virginia Life, Accident and Sickness Insurance Guaranty Association for life insurance death benefits from $300,000 to $500,000. The measure also increases the maximum amount that the Association may become obligated to cover with respect to (i) the net cash surrender and net cash withdrawal values for life insurance policies from $100,000 to $200,000 and (ii) the present value of annuity benefits, including net cash surrender and net cash withdrawal values, from $250,000 to $500,000. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/10/2011 | Prefiled and ordered printed; offered 01/12/11 11100883D |
01/10/2011 | Referred to Committee on Commerce and Labor |
01/31/2011 | Impact statement from SCC (SB917) |
02/08/2011 | Left in Commerce and Labor |