HB 261: Restrictions on Employer-owned Life Insurance Policies

GENERAL BILL by Gossett-Seidman

Restrictions on Employer-owned Life Insurance Policies; Authorizes employer-owned life insurance policies covering key persons of business entities, organizations, companies, & corporations under certain circumstances; requires certain disclosures to key persons; prohibits employer-owned life insurance policies covering certain employees; provides that policies covering such employees are void as against public policy; requires insurer notice to OIR of employer-owned life insurance policies; requires office to maintain registry & publish annual report; provides that premiums, loan interests, & expenses related to employer-owned life insurance are not tax deductible; subjecting death benefits received by employers to corporate income tax; requires OIR to adopt certain standard forms.

Current Bill Version Posted: 10/27/2025 11:43 AM

• Related Bills (1)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  S 894 by Martin Restrictions on Employer-owned Life Insurance Policies Last Action: 3/13/2026 S Died in Banking and Insurance	Similar

• Citations - Statute (1)

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  627.4635

  Page 2 (pdf)

• Bill History

  S = Senate, H = House

  10/27/2025	H	• Filed
  11/4/2025	H	• Referred to Insurance & Banking Subcommittee • Referred to Ways & Means Committee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee
  1/13/2026	H	• 1st Reading (Original Filed Version)
  3/13/2026	H	• Died in Insurance & Banking Subcommittee