Life Insurance Employee Notification Act

This bill would require employers to provide written notice to an employee if the company purchases a life insurance policy on that employee’s life that names someone other than the employee’s own family or estate as the beneficiary. Under this legislation, failing to provide this notification would be classified as an unfair or deceptive business practice, allowing for federal oversight and enforcement. The primary impact on citizens would be increased transparency regarding "employer-owned life insurance," ensuring workers are aware when their employers have a financial interest in their lives.