SB 289
Insurance Commission rule relating to premium financing for life insurance for college students
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
Senate Bill 289 authorizes the West Virginia Insurance Commission to create specific rules regarding premium financing for life insurance policies purchased by college students. This regulation aims to provide clarity and oversight for this type of insurance arrangement. The rule will focus on ensuring college students understand the terms and conditions of premium financing. The bill seeks to establish a framework for protecting students’ financial interests related to these policies.
Key provisions
- Authorizes the Insurance Commission to develop a legislative rule.
- The rule will address premium financing for life insurance.
- The rule specifically targets life insurance policies purchased by college students.
- The rule is intended to provide clarity and oversight for this type of insurance.
Who is affected
- College students
- Life insurance companies
- West Virginia Insurance Commission
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