Text: SF02074 Text: SF02076 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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
Text: SF02074 Text: SF02076 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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