House Bill 0841e2

                                          HB 841, Second Engrossed



  1                      A bill to be entitled

  2         An act relating to insurance; creating s.

  3         627.5015, F.S.; prohibiting delivery or

  4         issuance of industrial life insurance policies

  5         after a certain date; providing application;

  6         requiring disclosure of certain information to

  7         policyholders or premium payors; providing an

  8         effective date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Section 627.5015, Florida Statutes, is

13  created to read:

14         627.5015  Industrial life insurance prohibited;

15  application; disclosure.--

16         (1)  No policy of industrial life insurance shall be

17  delivered or issued in this state on or after October 1, 1999.

18         (2)  Each policy of industrial life insurance that has

19  been issued or delivered in this state prior to October 1,

20  1999, shall be subject to all applicable provisions of the

21  Florida Insurance Code and rules adopted under the code.

22         (3)  Each insurer which presently collects premiums in

23  this state for a policy of industrial life insurance shall,

24  prior to December 31, 2000, disclose to the policyholder or

25  premium payor the total amount of premiums paid, the cash

26  value, and the amount of the death benefits payable under such

27  policy.

28         Section 2.  This act shall take effect October 1, 1999.

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