Florida Modifies Foreign Travel Guideline for Life Insurance

Foreign travel guidelines for Florida life insurance changed in 2006 when the Florida Legislature passed the Freedom to Travel Act in 2006 and subsequently, The Financial Services Commission finalized Rule 690-125.003 in November of 2007. Florida law allows life insurance companies to only utilize foreign travel information in the underwriting of life insurance applications if the company can demonstrate travelers to a specific destination constitute.

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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UPDATED: Oct 28, 2020

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The use of applicants’ foreign travel history and plans in the underwriting of life insurance policies in Florida is an area we have blogged about in the past (term life insurance and foreign travel). As a refresher, the Florida Legislature passed the Freedom to Travel Act in 2006 and subsequently, The Financial Services Commission finalized Rule 690-125.003 in November of 2007.

The Florida law allows life insurance companies to only utilize foreign travel information in the underwriting of life insurance applications if the company can demonstrate travelers to a specific destination constitute an actuarially supportable class. However, at the recent request of one life insurance company, The Florida Office of Insurance Regulation has issued an order granting a variance for travel to Iraq and Afghanistan based on the “increased risk of death.”

So this means Florida residents can expect to once again answer questions regarding their foreign travel plans on their life insurance applications. The order is set to expire in February of 2010.

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