Senate Bill 1818
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1818
By Senator Holzendorf
2-1378-98
1 A bill to be entitled
2 An act relating to insurance; creating s.
3 627.5015, F.S.; prohibiting the issuance or
4 delivery of industrial life insurance policies
5 after a certain date; providing that existing
6 policies of industrial life insurance remain
7 subject to the applicable provisions of the
8 Insurance Code and rules adopted thereunder;
9 requiring an annual disclosure by insurers of
10 industrial life insurance; providing an
11 effective date.
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13 Be It Enacted by the Legislature of the State of Florida:
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15 Section 1. Section 627.5015, Florida Statutes, is
16 created to read:
17 627.5015 Industrial life insurance sale prohibited.--
18 (1) A policy of industrial life insurance may not be
19 delivered or issued in this state on or after October 1, 1998.
20 (2) Every policy of industrial life insurance which
21 has been issued or delivered in this state prior to October 1,
22 1998 is subject to all applicable provisions of this code and
23 rules adopted thereunder.
24 (3) Each insurer that has in force in this state a
25 policy of industrial life insurance must annually disclose to
26 the policyholder or premium payer the total amount of premiums
27 paid, the cash value, and the amount of the death benefit
28 payable thereunder.
29 Section 2. This act shall take effect October 1, 1998.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1818
2-1378-98
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2 SENATE SUMMARY
3 Prohibits the sale of industrial life insurance. Provides
for existing policies, and requires an annual disclosure
4 to policyholders.
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