The bill amends Chapter 27-4 of the General Laws, adding a new section, 27-4-28.1, which prohibits life insurance companies from excluding coverage for individuals based on preexisting medical conditions or previous denials of coverage. Specifically, it states that life insurance policies issued to residents of the state cannot limit or deny coverage due to an individual's health status prior to the effective date of the policy. The bill defines "preexisting condition exclusion" as any limitation or denial of benefits related to an individual's health information before the coverage begins.

Additionally, any language in life insurance applications, binders, or policies that attempts to impose a preexisting condition exclusion is rendered void and unenforceable. This legislation aims to ensure that individuals cannot be discriminated against in obtaining life insurance due to their medical history. The act will take effect immediately upon passage.