Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. SB 870
       
       
       
       
       
       
                                Ì4647805Î464780                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/03/2014           .                                
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    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 33 and 34
    4  insert:
    5         Section 2. Subsection (2) of section 627.94072, Florida
    6  Statutes, is amended to read:
    7         627.94072 Mandatory offers.—
    8         (2) An insurer that offers a long-term care insurance
    9  policy, certificate, or rider in this state shall must offer a
   10  nonforfeiture protection provision providing reduced paid-up
   11  insurance, extended term, shortened benefit period, or any other
   12  benefit benefits approved by the office if all or part of a
   13  premium is not paid. A nonforfeiture provision may also be
   14  offered in the form of a return of premium on the death of the
   15  insured, or on the complete surrender or cancellation of the
   16  policy or contract. Nonforfeiture benefits and any additional
   17  premium for such benefits must be computed in an actuarially
   18  sound manner, using a methodology that has been filed with and
   19  approved by the office.
   20  
   21  ================= T I T L E  A M E N D M E N T ================
   22  And the title is amended as follows:
   23         Delete line 5
   24  and insert:
   25         amending s. 627.94072, F.S.; providing an alternative
   26         form of a nonforfeiture provision for long-term care
   27         insurance; providing an effective date.