S760
An Act allowing for the use of an online tool to change life insurance beneficiaries
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill would allow individuals to update their beneficiaries on their life insurance policies through an online tool. Currently, changing beneficiaries often requires a formal process involving paperwork and potentially a visit to the insurance company. This legislation aims to streamline this process, making it easier and more convenient for people to manage their life insurance arrangements. The goal is to reduce administrative burdens and ensure beneficiaries are accurately identified.
Key provisions
- Allows for changes to life insurance beneficiaries via an online tool.
- Simplifies the process of updating beneficiary information.
- Reduces the need for traditional paperwork.
- Aims to improve the efficiency of life insurance beneficiary management.
Who is affected
- Life insurance policyholders
- Beneficiaries of life insurance policies
- Insurance companies
Notable changes
- Introduces a new method for updating beneficiaries – online.
- Potentially reduces the administrative costs associated with beneficiary changes.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Barry R. Finegold
Cosponsor
Barry R. Finegold
Arguments in favor
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Bill S.760 194th (Current)
An Act allowing for the use of an online tool to change life insurance beneficiaries
By Mr. Finegold, a petition (accompanied by bill, Senate, No. 760) of Barry R. Finegold for legislation to allow for the use of an online tool to change life insurance beneficiaries. Financial Services.
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Bill Information
Bill Information
Presenter: Barry R. Finegold Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Committee Summary Primary Sponsor Summary
Bill History
Displaying 4 actions for Bill S.760
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Financial Services |
| 2/27/2025 | House | House concurred |
| 10/27/2025 | Joint | Hearing scheduled for 11/04/2025 from 10:30 AM-01:30 PM in A-2 |
| 1/8/2026 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
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