A bill for an act relating to life insurance, permissible third parties, and financial exploitation of eligible adults.

SF 2454 creates new protections for vulnerable adults by requiring life insurance companies and qualified staff to delay certain disbursements (like policy withdrawals) if they suspect financial exploitation. It establishes a 15-day initial delay period for disbursements, extendable to 55 days total after internal reviews, and mandates written notification to authorized parties and the state commissioner. The bill defines "eligible adults" (vulnerable individuals) and "financial exploitation," while allowing notifications to designated "permissible third parties" (like family members) without liability for good-faith disclosures. It also provides legal immunity to insurers or staff who act reasonably to prevent exploitation, without requiring prior notification to third parties.