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TO AMEND ARTICLE 1, CHAPTER 63, TITLE 38 OF THE 1976 CODE, RELATING TO LIFE INSURANCE, TO PROVIDE THAT NO LIFE INSURER MAY TERMINATE, FINE, OR OTHERWISE PENALIZE AN AGENT FOR PRESENTING AN INSURED WITH OPTIONS UNDER HIS POLICY OR FOR ASSISTING A POLICYHOLDER WITH SECURING BENEFITS UNDER HIS POLICY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 63, Title 38 of the 1976 Code is amended by adding:
"Section 38-63-110. No insurer or broker may terminate, fine, or otherwise penalize an agent for:
(1) presenting an insured or his designee with options under the policy terms; or
(2) assisting an insured with securing any benefits under the policy terms."
SECTION 2. This act takes effect upon approval by the Governor.
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