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Kentucky Congressman Files Military Insurance Sales Bill

A bill imposing restrictions on marketing of insurance to U.S. soldiers on military bases has been introduced by Rep. Geoff Davis (R-Kentucky). The Military Personnel...
February 8, 2005

A bill imposing restrictions on marketing of insurance to U.S. soldiers on military bases has been introduced by Rep. Geoff Davis (R-Kentucky). The Military Personnel Financial Services Protection Act would make it clear that state insurance regulators have jurisdiction over insurance sales on military bases within their states. It would also ban the sale of contractual mutual funds, require that military personnel hear about government life insurance programs before buying private life insurance and allow military base commanders to ban agents from their bases, and forward a list of these banned agents to the Department of Defense (DOD); DOD would compile lists and send them to state DOIs for further investigation. Rep. Davis' bill, which has not yet been assigned a bill number, parallels a similar bill (H.R. 5011) that was passed last year by the House Financial Services Committee, but not enacted.

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