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.

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