1.1 	A bill for an act
1.2 	relating to life insurance; requiring life insurance companies and policies to provide 
1.3 	certain notices;proposing coding for new law in Minnesota Statutes, chapter 61A.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. [61A.012] ANNUAL NOTICE REQUIRED.
1.6 		Subdivision 1.Annual notice required. For each policy or certificate of life insurance 
1.7 	for individual life insurance issued or delivered in Minnesota, a life insurance company 
1.8 	must provide a written notice to the policyholder that contains the following information, 
1.9 	as applicable:
1.10 	(1) the policyholder;
1.11 	(2) the policy;
1.12 	(3) the insured life; and
1.13 	(4) the current contact information for the life insurance company.
1.14 		Subd. 2.Notice requirements. The notice required under this section must be provided 
1.15 	by the life insurance company to the policyholder at least once per calendar year, at the 
1.16 	policyholder's last known address.
1.17 		Subd. 3.Compliance with other law. This section's annual notice requirement is satisfied 
1.18 	by an annual report provided by a life insurance company to a policyholder pursuant to and 
1.19 	in compliance with section 61A.735.