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Witness recounts denied life-insurance payout as committee considers letting nonprofits be named beneficiaries
Summary
Representative Buckner introduced a bill to allow charitable nonprofits to be named beneficiaries of employer-provided group life policies when employees consent; the Methodist Home's CEO described a denied claim and urged the change, and the insurance industry indicated support for clarifying language.
Representative Buckner presented House Bill 10 58, saying the change would allow employees of charitable nonprofits to designate their employer as a beneficiary of an employer-provided group life policy when the employee signs the appropriate paperwork. "By law, they can't do that," Buckner said, describing the statutory restriction in Chapter 27, Title 33 of the code.
Why it matters: Lisonbee Evans, CEO of the…
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