Bills · 2009-2010 Regular Session
increasing the limit on policies issued by the state life insurance fund.
- Introduced, stopped here
- Passes Assembly, not reached
- Passes Senate, not reached
- Governor signs, not reached
- Law, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
The Office of the Commissioner of Insurance administers the state life
insurance fund (fund). The fund may issue any type of life insurance policy, with a
limit not exceeding $10,000, to a state resident. Premiums are paid into the fund and
net profits are distributed annually among policyholders. The state is not liable for
any obligation of the fund.
This bill increases the maximum limit on a life insurance policy that may be
issued by the fund from $10,000 to $75,000. In addition, the bill requires the
commissioner of insurance, who is the fund manager, to adjust the maximum limit
amount annually, beginning in 2011, by the annual change in the consumer price
index and to publish the adjusted amount in the Wisconsin Administrative Register.
What it would cost
Fiscal estimates filed by state agencies, as official PDFs