48.23.510  <<  48.23.525 >>   48.23.900

Individual life insuranceNoninsurance benefitsRules.

(1) A life insurer may include the following noninsurance benefits as part of a policy of individual life insurance, with the prior approval of the commissioner:
(a) Will preparation services;
(b) Financial planning and estate planning services;
(c) Probate and estate settlement services;
(d) Products or services related to any policy of individual life insurance that are intended to incent behavioral changes that improve the health and reduce the risk of death of the insured; and
(e) Such other services as the commissioner may identify by rule.
(2) For products and services referenced in subsection (1)(d) of this section, the commissioner may adopt rules that include minimum product or service standards to protect policyholder privacy rights; establish standards for ensuring that incentives, in the aggregate, are directed to sharing the benefit of improving risk experience; and implement consumer protection design and administration of such product or service.
(3) The commissioner may adopt rules to ensure disclosure of the noninsurance benefits permitted under this section, including but not limited to guidelines concerning the provision of the coverage.
(4) Those providing the services listed in subsection (1) of this section must be appropriately licensed.
(5) This section does not require the commissioner to approve any particular proposed noninsurance benefit. The commissioner may disapprove any proposed noninsurance benefit that the commissioner determines may tend to promote or facilitate the violation of any other section of this title.
(6) This section does not expand, limit, or otherwise affect the authority and ethical obligations of those who are authorized by the state supreme court to practice law in this state. This section does not limit the prohibition against the unauthorized practice of law under chapter 2.48 RCW.
(7) This section does not affect the application of chapter 21.20 RCW.


Effective date2020 c 197: See note following RCW 48.30.140.
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