If the life insurance benefits are placed in a retained asset account, the insurer shall send the beneficiary at least one statement per quarter, and a statement for any month in which there has been account activity other than just the crediting of interest.
Cal. Ins. Code § 10509.936
Life Insurance Proceeds Disclosure Act of 2011
Known as the Life Insurance Proceeds Disclosure Act
The act spans §§ 10509–10509 (9 sections).
Added by Stats. 2011, Ch. 130, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.