COPELAND HEADS GROUP TO STUDY INSURANCE PLAN

JEFFERSON CITY - State Rep. Gene Copeland, D-New Madrid, has been named chairman of House members on a joint legislative committee that will study credit life insurance.

The panel will decide whether legislation is necessary to regulate credit life insurance policies in Missouri. In 1989, $52.4 million in credit life premiums were underwritten in Missouri.

"Our study will focus on current rates and marketing practices used by those who sell credit life insurance," explained Copeland, who is also chairman of the House committee that deals with banks and financial institutions. "We want to ensure that Missouri consumers who agree to buy these policies are being treated fairly."

Credit life insurance is offered as an optional customer service by many bankers, automobile dealers, finance companies and insurance companies to consumers who buy major retail items on credit so that consumer debts will be automatically paid in the event of death or disability.

This insurance is normally available to any customer, regardless of age or previous health record.

The committee conducted its first hearing last Tuesday in Jefferson City.

Serving with Copeland from the House are Reps. Vernon Scoville, D-Kansas City; Steve Waters, D-Canton; Mark Elliott, R-Webb City; and David Oetting, R-Concordia.