Senate File 2256

                                       SENATE FILE       
                                       BY  COMMITTEE ON COMMERCE

                                       (SUCCESSOR TO SF 2192)


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act concerning 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 5865SV 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.  The commissioner of insurance shall
  1 12 adopt by rule the minimum amount required for issuance of a
  1 13 refund.
  1 14 SF 2256
  1 15 rh/cc/26
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