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