Iowa SSB3094 regulates life insurance, permissible third parties, and financial exploitation of eligible adults.

Iowa SSB3094 introduces provisions concerning life insurance, permissible third parties, and financial exploitation of eligible adults. The bill allows insurers or qualified individuals to delay disbursements or transactions if they reasonably believe these actions will result in or contribute to financial exploitation. Insurers must notify the commissioner and provide written notification to all persons authorized to transact business on the policy, contract, or account.

Iowa SSB3094 regulates life insurance, permissible third parties, and financial exploitation of eligible adults.

Iowa SSB3094 introduces provisions concerning life insurance, permissible third parties, and financial exploitation of eligible adults. The bill allows insurers or qualified individuals to delay disbursements or transactions if they reasonably believe these actions will result in or contribute to financial exploitation. Insurers must notify the commissioner and provide written notification to all persons authorized to transact business on the policy, contract, or account.