The bill amends Chapter 27-4 of the General Laws concerning life insurance policies by introducing a new section, 27-4-28.1, which prohibits life insurance companies from limiting or excluding coverage based on preexisting medical 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 health status prior to the effective date of the policy or the date of denial if coverage is denied.

The bill defines "preexisting condition exclusion" as any limitation or denial of benefits based on health information obtained before the policy's effective date, including conditions identified through pre-enrollment questionnaires, physical examinations, or reviews of medical records from the pre-enrollment period. Furthermore, any preexisting condition exclusion language included in life insurance applications, binders, or policies issued to or covering a resident of the state is rendered void and unenforceable. This act is set to take effect immediately upon passage.