HB751

Louisiana HB751 mandates insurers to provide applicants with a clear disclosure notice before signing term life insurance policies.

HB751 requires insurers or business entities promoting term life insurance policies in Louisiana to provide applicants with a disclosure notice. This notice must be a standalone document, separate from the application or policy, and must be presented in clear and conspicuous text. The notice must include specific information such as the total face amount of coverage, the duration of the policy, the cost of the policy, and the status of coverage at the expiration of the term. The applicant must initial each line and sign and date the notice before proceeding with the application.