Life, Accident, and Sickness Insurance Guaranty Association; increases maximum amount of coverage. (SB39)

Introduced By

Sen. Bryce Reeves (R-Spotsylvania)

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 »

Status

01/16/2012: Failed to Pass in Committee

History

DateAction
12/30/2011Prefiled and ordered printed; offered 01/11/12 12100992D
12/30/2011Referred to Committee on Commerce and Labor
01/16/2012Passed by indefinitely in Commerce and Labor (16-Y 0-N) (see vote tally)