2024 Minnesota Statutes

61A.012 ANNUAL NOTICE REQUIRED.

Subdivision 1.Annual notice required.

For each policy of individual life insurance issued or delivered in Minnesota, a life insurance company must provide a written notice to the policyholder that contains the following information, as applicable:

(1) the policyholder;

(2) the policy number;

(3) the insured life; and

(4) the current contact information for the life insurance company.

Subd. 2.Notice requirements.

The notice required under this section must be provided by the life insurance company to the policyholder at least once per calendar year, sent via United States mail to the policyholder's last known address or electronically to the policyholder's last known email address.

Subd. 3.Compliance with other law.

This section's annual notice requirement is satisfied by an annual report provided by a life insurance company to a policyholder pursuant to and in compliance with section 61A.735.

History:

2024 c 114 art 1 s 3