National Underwriter Life and Health
By: Trevor Thomas
The Wisconsin Senate Tuesday unanimously passed a bill requiring life insurance policies to be in force at least 5 years before consumers can sell the policies through a settlement. The bill, S.B. 513, would change an older law that has permitted consumers to sell policies after holding the policies for 2 years.
Commentary by Life Policy Group:
Evidence that consumer choice is restricted again because the regulators and the life offices will not properly monitor the applications for life insurance and act accordingly.