FINAL BILL REPORT
ESB 5042
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
C 32 L 17
Synopsis as Enacted
Brief Description: Authorizing funeral planning and funeral services as noninsurance benefits under group life and disability insurance policies.
Sponsors: Senators Angel, Hobbs and Wellman.
Senate Committee on Financial Institutions & Insurance
House Committee on Business & Financial Services
Background: The Office of the Insurance Commissioner (OIC) regulates insurance providers in Washington, including individual and group life insurers and disability insurers. A life insurer or disability insurer may include certain noninsurance benefits as part of a policy including will preparation, financial and estate planning, probate and estate settlement, grief counseling, and other services identified by the Commissioner. Group life insurance refers to a policy that insures the lives of more than one individual as part of a specified group allowed by statute. Disability insurance refers to a policy that pays benefits if the insured becomes partially or fully disabled and unable to work.
Summary: Funeral planning and funeral services are added to the benefits a life insurer or disability insurer may include as part of a policy, with the prior approval of the OIC.
An insurer must disclosure that funeral planning and funeral services do not constitute an insurance funded prearrangement contract.
Votes on Final Passage:
Senate | 49 | 0 | |
House | 97 | 0 |
Effective: | July 23, 2017 |