Amends TCA Title 56.
Tennessee HB0059 amends Title 56 of the Tennessee Code Annotated to prohibit life insurance policy issuers from collecting premiums once the total premium payments made by the policyholder equal the amount of coverage provided by the policy. This bill affects life insurance policyholders and issuers in Tennessee, applying to policies issued, amended, or renewed on or after July 1, 2025. A key provision of the bill is the stipulation that premium payments must reach the total coverage amount before further premiums can be collected.
Tennessee HB0059 amends Title 56 of the Tennessee Code Annotated to prohibit life insurance policy issuers from collecting premiums once the total premium payments made by the policyholder equal the amount of coverage provided by the policy. This bill affects life insurance policyholders and issuers in Tennessee, applying to policies issued, amended, or renewed on or after July 1, 2025. A key provision of the bill is the stipulation that premium payments must reach the total coverage amount before further premiums can be collected.
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