Fla. Strengthens Rules on Life Insurance Sales to Military

The Florida Legislature has passed legislation allowing the Department of Financial Services and the Financial Services Commission to adopt formal rules that increase protections against deceptive insurance practices for military service men and women.

“Today, the Legislature showed its deep appreciation for the many sacrifices made by Florida’s service men and women by ensuring they and their families are protected from misleading sales practices, unnecessary life insurance policies, and misrepresented products,” said Alex Sink, chief financial officer.

Sponsored by State Representative Garrett Richter, the bill (HB1381) now heads to Gov. Charlie Crist for his signature. State Senators Dave Aronberg and Don Gaetz sponsored the Senate companion, SB 2702.

Source: Florida Department of Financial Services