Senate File 2075 SENATE FILE BY DOTZLER Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to the refund of unearned accident and health 2 insurance premiums upon the death of the insured. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5149XS 80 5 rh/sh/8 PAG LIN 1 1 Section 1. NEW SECTION. 514A.3A REFUND OF UNEARNED 1 2 PREMIUM UPON DEATH OF INSURED. 1 3 In the event of the death of the insured of any policy 1 4 covered by this chapter, the insurer, upon receipt of notice 1 5 of the insured's death supported by a certified copy of a 1 6 valid death certificate and a request for a pro rata refund by 1 7 a party entitled to claim such a refund, shall refund the 1 8 unearned premium prorated to the month of the insured's death. 1 9 Refund of the premium and termination of the coverage shall be 1 10 without prejudice to any claim originating prior to the date 1 11 of the insured's death. 1 12 EXPLANATION 1 13 This bill relates to the refund of unearned accident and 1 14 health insurance premiums upon the death of the insured. 1 15 The bill provides that upon the death of an insured covered 1 16 by an individual accident and health insurance policy under 1 17 Code chapter 514A, the insurer shall refund the unearned 1 18 premium prorated to the month of the insured's death to a 1 19 party entitled to claim such a refund. The bill requires that 1 20 a request for a prorated refund upon the insured's death be 1 21 supported by a certified copy of a valid death certificate. 1 22 The bill also provides that the refund of the premium shall be 1 23 without prejudice to any claim filed prior to the date of the 1 24 insured's death. 1 25 Code section 514A.1 specifies that the words "policy of 1 26 accident and sickness insurance", which includes a policy or 1 27 contract covering insurance against loss resulting from 1 28 sickness, or from bodily injury or death by accident, or both, 1 29 and the words "policy of accident and health insurance" and 1 30 "policy of accident or health insurance" are interchangeable 1 31 without deviation of meaning under Code chapter 514A. 1 32 LSB 5149XS 80 1 33 rh/sh/8 1 34 1 35