Life insurance; prohibits an insurer form issuing a policy for an individual under 5 years of age. (SB817)

Introduced By

Sen. Dick Saslaw (D-Springfield) with support from co-patron Sen. Tommy Norment (R-Williamsburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Life insurance on minors; limits. Prohibits an insurer from issuing in Virginia a policy of life insurance upon the life of an individual under the age of five years. The bill also caps the amount of life insurance that may be issued on the life of a minor who is at least five years of age but under the age of 15 years at $50,000. The measure does not prohibit a domestic insurer from issuing for delivery, in another state or foreign country, a life insurance policy that is governed by the laws of such state or country for any amount not prohibited by the laws of the other state or country. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2018Presented and ordered printed 18100033D
01/12/2018Referred to Committee on Commerce and Labor
01/22/2018Impact statement from SCC (SB817)
02/05/2018Stricken at request of Patron in Commerce and Labor (14-Y 0-N) (see vote tally)