LIFE INSURANCE – Amends existing law to provide that certain policy owners may request additional notice of lapse or termination by certified mail.

This Idaho bill allows owners of individual life insurance policies with a face value exceeding $50,000 to request that notices of policy lapse or termination due to nonpayment of premiums be sent by certified mail (return receipt requested) instead of standard mail. To make this request, policy owners must submit a written request to their insurer at least 90 days before the expected lapse, and the insurer must acknowledge it in writing. The insurer is then required to send the certified mail notice at least 10 days before the lapse to both the policy owner and their designated contact, if provided. If the certified mail is undeliverable or refused, the insurer has no further obligation under this provision.