S. 5800-A(Seward)/A. 9181-A(Morelle)

Life Insurance-Minors

Summary:  The bill amends Insurance Law § 3207(b) to increase the monetary limitation on the amount of life insurance that a person may purchase on the life of a minor from $25,000 to $50,000.

Effective Date:  Immediately.

Last Action: Approved and signed by the Governor on July 7, 2008 (Chapter 178 of the Laws of 2008).