HB 334 (BR 1301) - M. Denham
AN ACT relating to group life insurance.
Amend KRS 304.16-030 to authorize payment of premiums for an employee group life insurance policy entirely by the insured employees; create a new section of Subtitle 16 of KRS Chapter 304 to authorize the sale of group life insurance to a resident of Kentucky who is a member of a group, other than an employee group, a labor union group, a trustee group, a public employee group, or an association group, to a resident of Kentucky, if the commissioner of insurance determines that issuance of the policy is not contrary to the best interest of the public, would result in economies of acquisition or administration, and the benefits are in reasonable relation to the premiums; authorize an offer of group life insurance in Kentucky under a policy issued in another state if the other state meets the requirements imposed on Kentucky group plans pursuant to this section; require that the premium for the policy be paid by either the policyholder, the covered persons, or partly by the policyholder and partly by the covered person; authorize an insurer to exclude or limit coverage of a person under a group life policy if there is not satisfactory evidence of the individual's insurability; amend KRS 304.16-085 to define "dependent" for purposes of group life insurance policies, other than an employee group, a labor union group, a trustee group, a public employee group, or an association group, to include an employee's or member's spouse, a child under age eighteen (18), a child older than age eighteen (18) who is unmarried, supported by the member, and a full-time student, and a dependent child regardless of age who is unmarried and incapable of self-sustaining employment due to a physical or mental condition during the continued incapacity and subject to notice from the employee or member that the child has attained the termination age.
Feb 3-introduced in House
Feb 4-to Banking & Insurance (H)
Feb 10-posted in committee
Feb 16-reported favorably, 1st reading, to Consent Calendar
Feb 17-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Friday, February 18, 2011
Feb 18-3rd reading, passed 96-0; received in Senate
Feb 23-to Banking & Insurance (S)