A bill for an act relating to life insurance, permissible third parties, and financial exploitation of eligible adults.

This Iowa bill protects vulnerable adults from financial exploitation by allowing life insurance companies and trained professionals to delay disbursements from policies or accounts. If they reasonably suspect exploitation, they can pause transactions for up to 55 business days after internal review, with specific notification requirements to the state commissioner and designated "permissible third parties" (like family members). The law defines key terms like "eligible adult" and "financial exploitation," and provides legal immunity for good-faith reports to authorities. It focuses on preventing harm through structured delays and reporting, without changing insurance product rules.