Bills › 91st General Assembly
Relating to the applicability of the standard nonforfeiture law for individual deferred annuities to contingent deferred annuities
Sponsored by the Senate Commerce (companion To Hf 2184 By Committee on Commerce) Committee
Topics:Insurance
Where it is now
- Done: IntroducedJanuary 22, 2026
- Done: SubcommitteeJanuary 22, 2026
- Done: Senate committeeFebruary 4, 2026
- Done: Passes the SenateMarch 3, 202644–0
- Skipped: House committeeSkipped
- Done: Passes the HouseMarch 12, 202691–0
- Done: To the GovernorApril 9, 2026
- Done: Signed into lawApril 9, 2026
Signed into law What’s a funnel?
What’s in it
AI summary Currently, certain rules protect people from losing money when they cancel certain types of insurance plans. This bill would remove those specific protections for contingent deferred annuities. However, the commissioner of insurance can still create new rules to make sure these policyholders are treated fairly.1
Read the official explanation
This bill provides that subsections 2 through 7 of Code section 508.38 (standard nonforfeitures —— deferred annuities) shall not apply to contingent deferred annuities, except that the commissioner of insurance may prescribe by rule nonforfeiture benefits for contingent deferred annuities that the commissioner deems equitable to policyholders, appropriate for the risks insured, and consistent with the general intent of Code section 508.38.
Why it matters. Insurance companies that sell contingent deferred annuities would no longer be required to follow certain standard nonforfeiture rules. The commissioner of insurance may instead create new rules to set benefits for these policyholders that are considered fair and appropriate for the risks involved.2
Senate subcommittee
Named January 22, 2026 (as SSB 3064). On January 29, 2026 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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91st General Assembly