Insurance Code § 10509.935

ARTICLE 11. Life Insurance Proceeds Disclosure Act of 2011

Current as of September 28, 2026Ins. Code, § 10509.935Official source ↗

Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.

If the insurer settles life insurance benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract.