SB 894: Restrictions on Employer-owned Life Insurance Policies

GENERAL BILL by Martin

Restrictions on Employer-owned Life Insurance Policies; Authorizing employer-owned life insurance policies covering certain key persons of business entities, organizations, companies, and corporations under specified circumstances; providing that premiums, loan interests, and expenses related to employer-owned life insurance are not tax deductible; specifying that insurers that violate certain provisions are subject to a fine of up to $1 million per violation and may have its authority to transact insurance suspended or revoked, etc.

Current Bill Version Posted: 12/12/2025 03:02 PM

• Senate Committee References (3)

  1. Banking and Insurance (BI)
  2. Appropriations Committee on Agriculture, Environment, and General Government (AEG)
  3. Fiscal Policy (FP)

• Related Bills (1)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  H 261 by Gossett-Seidman Restrictions on Employer-owned Life Insurance Policies Last Action: 3/13/2026 H Died in Insurance & Banking Subcommittee	Similar

• Citations - Statute (1)

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  627.4635

  Page 1 (pdf)

• Bill History

  S = Senate, H = House

  12/12/2025	S	• Filed
  12/16/2025	S	• Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
  1/13/2026	S	• Introduced
  3/13/2026	S	• Died in Banking and Insurance