California § 10509.931. 10509.931. (Added by Stats. 2011, Ch. 130, Sec. 1.)

California Statutes

§ 10509.931. — 10509.931. (Added by Stats. 2011, Ch. 130, Sec. 1.)

California § 10509.931.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 2.DIVISION 2. CLASSES OF INSURANCE

Part 2.PART 2. LIFE AND DISABILITY INSURANCE

Ch. 5.CHAPTER 5. General Regulation of Life Insurers

Art. 11.ARTICLE 11. Life Insurance Proceeds Disclosure Act of 2011

This text of California § 10509.931. (10509.931. (Added by Stats. 2011, Ch. 130, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 10509.931. (2026).

Text

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 proc

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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.