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Senate advances bill to let terminally ill Utahns access life-insurance funds
Summary
Senate debated and placed Senate Bill 66, which would allow people with terminal or catastrophic illnesses to access life-insurance proceeds or accelerated benefits; proponents said the change gives patients an option other than Medicaid and could reduce state costs. The bill was placed on the third-reading calendar.
Senators discussed and advanced legislation aimed at giving terminally ill policyholders additional options to access life-insurance proceeds.
Senate Bill 66 would permit certain policy transactions or accelerated access for people with terminal or catastrophic illnesses, confinement to nursing homes, or other defined conditions. Sponsors argued the bill provides an option for people who otherwise have limited market choices, could help avoid Medicaid expenditures in some cases, and mirrors similar legislation enacted in other states. Supporters noted safeguards and that the bill is not limited to any single diagnosis.
Floor speakers acknowledged possible abuses — buyers acquiring policies at deep discounts — but proponents said existing market mechanisms and regulatory oversight mitigate that risk. The sponsor emphasized the intent to expand choices for patients who need funds for housing, medicines, or care.
The bill received recorded support on the floor and was placed on the third-reading calendar (25 ayes, no nays reported in the roll call referenced in the transcript).
Ending: SB66 advances to third reading; supporters and committee chairs said they would continue to work on implementation details and oversight.
