Iowa HF2232 amends life insurance laws to prevent financial exploitation of eligible adults.

Iowa HF2232 amends life insurance laws to include provisions against financial exploitation of eligible adults. Insurers and qualified individuals can delay disbursements or transactions if they reasonably believe it will result in financial exploitation. They must notify the commissioner and provide reasons for the delay. The delay can be extended if the internal review supports the belief. Insurers must provide training to employees handling complaints, possible fraud, and investigations. They must also provide access to relevant records to the commissioner and law enforcement.

Iowa HF2232 amends life insurance laws to prevent financial exploitation of eligible adults.

Iowa HF2232 amends life insurance laws to include provisions against financial exploitation of eligible adults. Insurers and qualified individuals can delay disbursements or transactions if they reasonably believe it will result in financial exploitation. They must notify the commissioner and provide reasons for the delay. The delay can be extended if the internal review supports the belief. Insurers must provide training to employees handling complaints, possible fraud, and investigations. They must also provide access to relevant records to the commissioner and law enforcement.