Ins. Code, § 10509.931 · Article 11. Life Insurance Proceeds Disclosure Act of 2011
Ins. Code, § 10509.931
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The Legislature finds and declares all of the following:
(a) The occasion of the death of a spouse, parent, child, partner, or other loved one is a difficult time, accompanied by severe emotional stress, and is frequently a time of important and often difficult financial decisions.
(b) Life insurance is intended to provide an important resource to support and ease financial decisions at such a time.
(c) While life insurance policies may provide for a single payment of the death benefit, policies may also offer alternative payout options, including the use of a retained asset account.
(d) The inherent difficulty of financial decisions at such a time may be eased if consumers know what their available payment options are so they can receive the benefit of available life insurance policy proceeds in the form best suited to their circumstances and needs.
Notes and commentary — not statutory text
History
Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=10509.931.
- Text hash
- sha256 7ec7e6b5657ea2b00bec6861b10be5f527dd42d7daa0a140b955e7746b94a379
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.