Life Insurance In Florida

Insurance companies attempting to unfairly spike premiums or deny coverage to Floridians traveling overseas would be prohibited from such practices under legislation passed. "Companies are discriminating against Americans who are traveling legally," said Sen. Aronberg. "Insurance rates should be set by actuarially sound data, not irrational fear."  Currently, Floridians who travel to Israel, Colombia, the Philippines or 24 other countries are often penalized by their life insurance companies, even though the destinations are legal and statistically safe.

Senator Aronberg passed legislation that would prevent insurance companies from altering the conditions or cost of policies in a manner that is beyond the actual risk of traveling to a particular country. "Decisions made by these insurance companies need to be actuarially justified. Changes to the terms of a policy should be proportionate to the risk associated with the destination," said Sen. Aronberg. "Instead of sound analysis, the decision to change or deny a life insurance policy is too often an arbitrary process."

For example, insurance coverage could be denied because of travel to Israel, even though statistics show that Israel's intentional death rate is 11 per 100,000, compared to the United States' rate of 17 per 100,000. Senator Aronberg's bill was sponsored in the House by Rep. Eleanor Sobel (D-Hollywood) and strongly supported by a bi-partisan coalition led by Rep. Adam Hasner (R-Delray Beach). His legislation next heads to the governor's desk for signature.