Adjusts the limitation of liability in life insurance policies in Washington.

The bill modifies the limitation of liability in life insurance policies in Washington. It specifies that insurers may limit their liability to a determinable amount not less than the full reserve of the policy in the event of death due to war, military service, or aviation under specified conditions. The bill also mandates that credit life insurance and credit accident and health insurance policies must be delivered to the debtor at the time the indebtedness is incurred. This act applies to life insurance policies issued or renewed on or after January 1, 2026.

Adjusts the limitation of liability in life insurance policies in Washington.

The bill modifies the limitation of liability in life insurance policies in Washington. It specifies that insurers may limit their liability to a determinable amount not less than the full reserve of the policy in the event of death due to war, military service, or aviation under specified conditions. The bill also mandates that credit life insurance and credit accident and health insurance policies must be delivered to the debtor at the time the indebtedness is incurred. This act applies to life insurance policies issued or renewed on or after January 1, 2026.