Indiana 2023 Regular Session Status: In Committee 1 R cosponsors

SB 291 — Life insurance matters.

Last action — First reading: referred to Committee on Insurance and Financial Institutions

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

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Provides that, after a life insurance policy is issued, the insurer that issued the policy shall not materially change: (1) the method of calculating the cash surrender value of the policy; or (2) any other regulated benefit of the policy; in a manner that was not specified in the policy when the policy was issued. Requires the insurance commissioner: (1) to disapprove an endorsement filed by the insurer that issued a life insurance policy if the endorsement would modify the method of calculating the cash surrender value of the policy; and (2) to rescind any approval of an endorsement allowing the modification of the method of calculating a life insurance policy's cash surrender that was granted before July 1, 2023, as having been inconsistent with law at the time the endorsement was granted. Allows an insurer to require an individual applying for a life insurance policy to provide any information known to the individual that is pertinent to the longevity risk posed by the individual, including information resulting from genetic testing or screening regarding the individual's susceptibility to future health conditions. However, provides that: (1) a life insurance policy shall not be underwritten on the basis of a requirement that the applicant or insured individual undergo genetic testing or screening; and (2) the issuance of a life insurance policy shall not be conditioned on the requirement that the applicant or insured individual undergo genetic testing or screening.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 291 on the official Indiana source →

Action History

  1. First reading: referred to Committee on Insurance and Financial Institutions

  2. Authored by Senator Holdman

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 149 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

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"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

Subjects

health-insurance
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Frequently asked questions

What does SB 291 do?
Provides that, after a life insurance policy is issued, the insurer that issued the policy shall not materially change: (1) the method of calculating the cash surrender value of the policy; or (2) any other regulated benefit of the policy; in a manner that was not specified in the policy when the policy was issued. Requires the insurance commissioner: (1) to disapprove an endorsement filed by the insurer that issued a life insurance policy if the endorsement would modify the method of calculating the cash surrender value of the policy; and (2) to rescind any approval of an endorsement allowing the modification of the method of calculating a life insurance policy's cash surrender that was granted before July 1, 2023, as having been inconsistent with law at the time the endorsement was granted. Allows an insurer to require an individual applying for a life insurance policy to provide any information known to the individual that is pertinent to the longevity risk posed by the individual, including information resulting from genetic testing or screening regarding the individual's susceptibility to future health conditions. However, provides that: (1) a life insurance policy shall not be underwritten on the basis of a requirement that the applicant or insured individual undergo genetic testing or screening; and (2) the issuance of a life insurance policy shall not be conditioned on the requirement that the applicant or insured individual undergo genetic testing or screening.
Who sponsors SB 291?
SB 291 is sponsored by Travis Holdman (Republican).
What is the current status of SB 291?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 291?
Track SB 291 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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