Requires insurers to notify agents of impending lapses in life, disability, or long-term care insurance policies.

The bill amends Chapter 175 of the General Laws to mandate that insurers notify the agent of record if a policy owner's life, disability, or long-term care insurance policy is set to lapse. This notification must occur at least 21 days before the effective date of the lapse. The insurer must either notify the agent directly or send a copy of the notification electronically.

Requires insurers to notify agents of impending lapses in life, disability, or long-term care insurance policies.

The bill amends Chapter 175 of the General Laws to mandate that insurers notify the agent of record if a policy owner's life, disability, or long-term care insurance policy is set to lapse. This notification must occur at least 21 days before the effective date of the lapse. The insurer must either notify the agent directly or send a copy of the notification electronically.