Bill 150

                    Current Status

Bill Number:               150
Ratification Number:       66
Act Number                 34
Introducing Body:          Senate
Subject:                   Amount of insurance of applicant

(A34, R66, S150)

AN ACT TO AMEND SECTION 38-35-460, CODE OF LAWS OF SOUTH CAROLINA, 1976, AS AMENDED, RELATING TO OPTIONAL PROVISIONS IN ACCIDENT AND HEALTH INSURANCE POLICIES, SO AS TO REQUIRE THE INSURER WRITING SUCH POLICIES TO ASCERTAIN THE AMOUNT OF INSURANCE AN APPLICANT HAS IN FORCE WITH SUCH INSURER AT THE TIME OF APPLICATION FOR ADDITIONAL COVERAGE AND TO REQUIRE THE INSURER TO PROVIDE THE APPLICANT WITH THE TOTAL AMOUNT OF COVERAGE WHEN THE APPLICANT HAS LIFE, ACCIDENT AND HEALTH INSURANCE ENFORCED WITH SUCH INSURER.

Be it enacted by the General Assembly of the State of South Carolina:

Amount of Insurance of Applicant.

Section 1. Item (3) of Section 38-35-460 of the 1976 Code is amended by adding at the end:

"On every application for insurance the insurer shall ask for the amount of insurance which the applicant currently has in force with such insurer. If the insurer fails to ascertain the amount of insurance which an applicant has in force, all policies issued by the insurer to the applicant shall remain in force and the insurer shall be liable for all benefits payable thereunder, unless the applicant has misrepresented the amount of existing coverage on the application."

Insurer to Provide Applicant with total Amount of coverage

Section 2. Provided, in all cases where the applicant indicates that other life, accident ad health insurance is in force with the insurer or the insurer's company, the insurer shall provide the applicant with the total amount of existing coverage with the insurer or insurer's company within sixty days.

Time effective

Section 3. This act shall take effect upon approval by the Governor.