California 2011-2012 Regular Session Status: Enacted

SB 1449 — Life insurance and annuities.

Last action — Chaptered by Secretary of State. Chapter 567, Statutes of 2012.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 24, 2012. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law governs the business of insurance and defines various types of insurance for these purposes, including life insurance, and disability insurance. Existing law generally makes the requirements imposed on disability insurance contracts inapplicable to life insurance, endowment, and annuity contracts, or supplemental contracts thereto, that provide additional benefits in case of death or dismemberment or loss of sight by accident, operate to safeguard contracts against lapse, or give a special surrender value, a special benefit, or an annuity, if the insured or annuitant becomes totally and permanently disabled. This bill would instead make those provisions inapplicable to provisions and supplemental contracts that operate to safeguard against lapse, or give a special surrender benefit if the owner, insured, or annuitant, meets certain benefit triggers. The bill would specify that the provisions or supplemental contracts that operate to safeguard life insurance contracts against lapse are defined as a waiver of a premium benefit or monthly deduction benefit when the insured becomes totally disabled, as specified, and would define the term "special surrender benefit" for purposes of those provisions. The bill would require those provisions and supplemental contracts to contain certain provisions, including information on giving notice of a claim. The bill would authorize a contract or supplemental contract issued by an admitted life and disability insurer to contain a provision for a waiver of a special surrender benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant. Existing law requires a supplemental contract described above, or, if the supplemental contract is an integral part of a contract of life insurance the entire contract, to be submitted to the Insurance Commissioner for approval, and prohibits the commissioner from approving a contract under certain circumstances, including if the contract contains any provision that is likely to mislead a person to whom the policy is offered, delivered, or issued. This bill would require, if a supplemental contract is an integral part of an annuity contract, the entire contract to be submitted to the commissioner for approval. The bill would specify that a provision or supplemental contract that operates to safeguard a life insurance contract from lapse or includes a special surrender benefit shall be considered an integral part of a contract and would require the insurer to submit, for information purposes, a sample copy of the life insurance or annuity contract with which the supplemental contract will be used in order to facilitate the review of the supplemental contract. The bill would prohibit a provision or supplemental contract that contains any title, description, or any other indication that would describe or imply that the policy or supplemental contract provides long-term care coverage, and would require a provision or supplemental contract to specify any applicable exclusions, which the bill would limit, as provided.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 567, Statutes of 2012.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4 p.m.

  4. Assembly amendments concurred in. (Ayes 33. Noes 0. Page 4967.) Ordered to engrossing and enrolling.

  5. In Senate. Concurrence in Assembly amendments pending.

  6. Read third time. Passed. (Ayes 79. Noes 0. Page 6351.) Ordered to the Senate.

  7. Read second time. Ordered to third reading.

  8. Read second time and amended. Ordered to second reading.

  9. From committee: Do pass as amended. (Ayes 17. Noes 0.) (August 16).

  10. Set, first hearing. Referred to APPR. suspense file.

  11. From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.

  12. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 12. Noes 0.) (June 27). Re-referred to Com. on APPR.

  13. From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

  14. Referred to Com. on INS.

  15. In Assembly. Read first time. Held at Desk.

  16. Read third time. Passed. (Ayes 37. Noes 0. Page 3714.) Ordered to the Assembly.

  17. Ordered to third reading.

  18. From special consent calendar.

  19. Ordered to special consent calendar.

  20. Read second time. Ordered to third reading.

  21. Ordered to second reading.

  22. Withdrawn from committee.

  23. From committee: Do pass and re-refer to Com. on JUD. (Ayes 8. Noes 0. Page 3308.) (April 25). Re-referred to Com. on JUD.

  24. From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

  25. Set for hearing April 25.

  26. Set, first hearing. Hearing canceled at the request of author.

  27. From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

  28. Set for hearing April 11.

  29. Referred to Coms. on INS. and JUD.

  30. Read first time.

  31. From printer. May be acted upon on or after March 26.

  32. Introduced. To Com. on RLS. for assignment. To print.

Sponsors

  • Calderon · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Calderon

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Unfinished Business SB1449 Calderon Concurrence

Passed 33 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Unaffiliated 30007
Republican 1000
Democratic 2000
Total 33007
% of votes cast 83%0%0%18%
How each member voted (40)
Member Party Vote
Yee — Not Voting
Cannella — Yea
Lowenthal — Yea
De León — Yea
Negrete McLeod — Yea
Rubio — Yea
Anderson — Yea
Blakeslee — Yea
Correa — Yea
DeSaulnier — Yea
Harman — Yea
Hernandez — Yea
Huff — Yea
Liu — Yea
Simitian — Yea
Steinberg — Yea
Vargas — Yea
Walters — Yea
Wolk — Yea
Wyland — Not Voting
Runner — Not Voting
Hancock — Not Voting
Dutton — Yea
Kehoe — Not Voting
Lieu — Not Voting
Alquist — Yea
Leno — Yea
Pavley — Not Voting
Price — Yea
Wright — Yea
Corbett — Yea
Emmerson — Yea
Evans — Yea
Fuller — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Yea

Official roll call →

SB 1449 Calderon Senate Third Reading By PEREA

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 2000
Unaffiliated 76001
Democratic 1000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Garrick — Yea
Hagman — Yea
Huber — Yea
Hueso — Yea
Jeffries — Yea
Knight — Yea
John A. Pérez — Yea
Mitchell — Yea
Butler — Yea
Carter — Yea
Chesbro — Yea
Miller — Yea
Pan — Yea
Atkins — Yea
Feuer — Yea
Fuentes — Yea
Galgiani — Yea
Campos — Yea
Portantino — Yea
Gordon — Yea
Allen — Yea
Gorell — Yea
Bonilla — Yea
Halderman — Yea
Fong — Yea
Fletcher — Yea
Cedillo — Yea
Hall — Yea
Hayashi — Yea
Huffman — Yea
Alejo — Yea
Beall — Yea
Block — Yea
Conway — Yea
Cook — Yea
Donnelly — Not Voting
Lara — Yea
Mendoza — Yea
Monning — Yea
Morrell — Yea
Nestande — Yea
Nielsen — Yea
Norby — Yea
Silva — Yea
Smyth — Yea
Solorio — Yea
Torres — Yea
Valadao — Yea
Wieckowski — Yea
Williams — Yea
Achadjian — Yea
Ammiano — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Yea
Hill — Yea
Logue — Yea
Ma — Yea
Mansoor — Yea
Olsen — Yea
Perea — Yea
Skinner — Yea
Swanson — Yea
Wagner — Yea
Eng — Yea
Davis — Yea
Dickinson — Yea
Furutani — Yea
Gatto — Yea
Yamada — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass as amended.

Passed 17 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 16000
Democratic 1000
Total 17000
% of votes cast 100%0%0%0%
How each member voted (17)
Member Party Vote
Fuentes — Yea
Mitchell — Yea
Hall — Yea
Campos — Yea
Harkey — Yea
Blumenfield — Yea
Cedillo — Yea
Donnelly — Yea
Nielsen — Yea
Norby — Yea
Bradford — Yea
Hill — Yea
Solorio — Yea
Wagner — Yea
Davis — Yea
Gatto — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Do pass and re-refer to Committee on Appropriations with recommendation: To Consent Calendar.

Passed 12 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 11001
Democratic 1000
Total 12001
% of votes cast 92%0%0%8%
How each member voted (13)
Member Party Vote
Carter — Yea
Hagman — Yea
Hayashi — Yea
Bradford — Yea
Miller — Yea
Solorio — Yea
Wieckowski — Yea
Olsen — Yea
Skinner — Yea
Torres — Not Voting
Feuer — Yea
Beth Gaines — Yea
Calderon, Lisa Democratic Yea

Official roll call →

3rd Reading

Passed 37 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 35002
Democratic 2000
Republican 0001
Total 37003
% of votes cast 93%0%0%8%
How each member voted (40)
Member Party Vote
Yee — Yea
Wyland — Yea
Fuller — Yea
Hancock — Yea
Harman — Yea
Hernandez — Yea
Huff — Yea
Lowenthal — Yea
De León — Yea
Anderson — Yea
Kehoe — Yea
Liu — Yea
Pavley — Yea
Price — Yea
Walters — Yea
Wolk — Yea
Wright — Yea
Negrete McLeod — Yea
Rubio — Yea
Runner — Not Voting
Cannella — Yea
Leno — Yea
Dutton — Yea
Vargas — Yea
Alquist — Yea
Blakeslee — Yea
Lieu — Yea
Simitian — Not Voting
Steinberg — Yea
Corbett — Yea
Emmerson — Yea
Correa — Yea
Evans — Yea
DeSaulnier — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Not Voting

Official roll call →

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1449 do?
Existing law governs the business of insurance and defines various types of insurance for these purposes, including life insurance, and disability insurance. Existing law generally makes the requirements imposed on disability insurance contracts inapplicable to life insurance, endowment, and annuity contracts, or supplemental contracts thereto, that provide additional benefits in case of death or dismemberment or loss of sight by accident, operate to safeguard contracts against lapse, or give a special surrender value, a special benefit, or an annuity, if the insured or annuitant becomes totally and permanently disabled. This bill would instead make those provisions inapplicable to provisions and supplemental contracts that operate to safeguard against lapse, or give a special surrender benefit if the owner, insured, or annuitant, meets certain benefit triggers. The bill would specify that the provisions or supplemental contracts that operate to safeguard life insurance contracts against lapse are defined as a waiver of a premium benefit or monthly deduction benefit when the insured becomes totally disabled, as specified, and would define the term "special surrender benefit" for purposes of those provisions. The bill would require those provisions and supplemental contracts to contain certain provisions, including information on giving notice of a claim. The bill would authorize a contract or supplemental contract issued by an admitted life and disability insurer to contain a provision for a waiver of a special surrender benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant. Existing law requires a supplemental contract described above, or, if the supplemental contract is an integral part of a contract of life insurance the entire contract, to be submitted to the Insurance Commissioner for approval, and prohibits the commissioner from approving a contract under certain circumstances, including if the contract contains any provision that is likely to mislead a person to whom the policy is offered, delivered, or issued. This bill would require, if a supplemental contract is an integral part of an annuity contract, the entire contract to be submitted to the commissioner for approval. The bill would specify that a provision or supplemental contract that operates to safeguard a life insurance contract from lapse or includes a special surrender benefit shall be considered an integral part of a contract and would require the insurer to submit, for information purposes, a sample copy of the life insurance or annuity contract with which the supplemental contract will be used in order to facilitate the review of the supplemental contract. The bill would prohibit a provision or supplemental contract that contains any title, description, or any other indication that would describe or imply that the policy or supplemental contract provides long-term care coverage, and would require a provision or supplemental contract to specify any applicable exclusions, which the bill would limit, as provided.
Who sponsors SB 1449?
SB 1449 is sponsored by Calderon.
What is the current status of SB 1449?
This bill has been enacted into law. Introduced February 24, 2012. Enacted.
Where can I track SB 1449?
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