TO AMEND SUBARTICLE 5, ARTICLE 3, CHAPTER 71, TITLE 38 OF THE 1976 CODE, RELATING TO INDIVIDUAL ACCIDENT AND HEALTH INSURANCE POLICIES, BY ADDING SECTION 38-71-625, TO PROVIDE THAT AN INSURER MUST PROVIDE A DISCOUNT TO A POLICY HOLDER WHO HAS AND MAINTAINS A DECLARATION PURSUANT TO THE DEATH WITH DIGNITY ACT.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Subarticle 5, Article 3, Chapter 71, Title 38 of the 1976 Code is amended by adding:

    "Section 38-71-625.    All insurers issuing accident or health policies, or combinations thereof, in this State, if the premiums on the policies are collected directly by mail on a quarterly, semiannual, or annual basis, shall provide a discounted premium to a policyholder who, at the time of entering into the insurance policy, has legally executed a declaration as provided in Chapter 77, Title 44. The discounted premium shall continue as long as the policyholder maintains a legally enforceable declaration."

SECTION    2.    This act takes effect July 1, 2021 and applies to all applicable insurance policies issued on or after that date.