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Senate Debates Disability-Insurance Disclosure Bill; Advances Under 24-Hour Rule
Summary
Senate Bill 2 would require insurers to disclose discounts that reduce disability-insurance payouts. Sponsor Senator Richards described constituent cases where Social Security offsets dramatically reduced expected benefits. The Senate invoked the 24-hour rule and deferred final action.
SALT LAKE CITY — Senators discussed Senate Bill 2 on Jan. 19, 1993, a measure amending disability-insurance rules to require insurers to disclose on prospectuses and policies any discounts or offsets that will reduce benefits.
Sponsor Senator Richards told the chamber the bill is intended as a consumer-protection "truth…
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