The bill amends Chapter 27-4 of the General Laws by introducing a new section, 27-4-28.1, which prohibits life insurance companies from limiting or excluding coverage based on preexisting conditions or previous denials of coverage. Specifically, it states that a life insurance policy offered, issued, or delivered to a resident of the state cannot deny coverage due to an individual's prior health status or medical conditions that existed before the effective date of the policy. The bill defines "preexisting condition exclusion" as any limitation or exclusion of benefits applicable to an individual based on health information prior to the effective date of coverage or the date of denial. Additionally, any preexisting condition exclusion language included in life insurance applications, binders, or policies issued to residents of the state is declared void and unenforceable. The act will take effect immediately upon passage.