Insurance Code section 10509.932


The purpose of this act is to establish disclosure standards regarding the payment of life insurance benefits to a beneficiary by means of a retained asset account if a life insurance company offers consumers a retained asset account or establishes such an account as an alternative to the receipt of insurance proceeds by a single payment made directly to the beneficiary that satisfies all of the benefits owed to the beneficiary.

Source: Section 10509.932, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=INS§ionNum=10509.­932.­ (updated Jan. 1, 2012; accessed Jul. 14, 2025).

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Verified:
Jul. 14, 2025

§ 10509.932's source at ca​.gov