2008 House Bill 2690 (Clarify interest on insurance cash-out)

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• Introduced in the House on January 25, 2008, to clarify that interest and dividends will continue to accrue during the deferment period before any cash surrender of a life insurance policy is paid. Insurance companies are currently allowed to defer payment of cash surrender value on these policies for six months.
  • Referred to the House Insurance and Financial Institutions Committee on January 28, 2008.
    • Reported to the House on February 27, 2008, recommending the bill be passed as amended. House committee amendments clarify that the accrual of interest or dividends would cease when the surrender value is paid.

Comments

Introduced in the House on January 25, 2008. New Comment