|Posted:||September 12, 2017 11:58 AM|
|From:||Representative Aaron Bernstine|
|To:||All House members|
|Subject:||Co-sponsor Memo – Limitation on Life Insurance Benefits due to Furtherance of Terrorism|
In the near future, I plan to introduce legislation to allow insurance companies to limit payouts on life insurance policies purchased by individuals who died while carrying out acts of terrorism.
My legislation would limit payments to beneficiaries named on life insurance policies to only the amount of premium the insured paid to the insurer if the insured’s death was a result of the insured’s furtherance of terrorism. Additionally, victims of the insured’s furtherance of terrorism shall receive proportional proceeds from the insured’s life insurance policy in coordination with the Pennsylvania Victims Compensation Assistance Program.
I hope you will join me in co-sponsoring this important piece of legislation.
Introduced as HB1996