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State Representative Ernest Bailes' HB 1745, Ensuring Financial Protections for Elderly Texans, is Heard in Committee

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State Representative Ernest Bailes' HB 1745, Ensuring Financial Protections for Elderly Texans, is Heard in Committee  print page

by: Rep. Bailes, Ernest

AUSTIN, TX - State Representative Ernest Bailes laid out House Bill 1745 before the Insurance Committee on Tuesday. HB 1745 is a measure to financially protect elderly Texans from surrendering their life insurance policies without understanding all options available to them.

Seniors are especially vulnerable to lapsing or surrendering a life insurance policy they otherwise may have been able to sell for more than the cash surrender value of their policy. Under HB 1745, when a policy owner makes a change affecting their life insurance policy, the insurer shall provide a written notice encouraging the policy owner to consult with a financial advisor.

"I believe many insurance providers are already following these guidelines which promote transparency and accountability," stated Bailes. "This measure would ensure all professionals are held to the same standards of best business practices."

Representative Bailes has also joint-authored HB 1932 by Representative Senfronia Thompson, which furthers elderly financial protection through straightforward policies.

About Representative Bailes Elected in 2016, State Representative Ernest Bailes represents House District 18, including Liberty, San Jacinto, and Walker counties. Bailes, a lifelong rancher and agriculturalist, was raised on his family’s dairy and beef cattle operation in East Texas. He grew up in Shepherd and earned his B.S. from Texas A&M University in 2004.

Ernest and his wife, Courtney live in Shepherd, Texas with their two sons, Cinco and Rigby. Both sons attend Coldspring-Oakhurst CISD where Courtney is a school teacher. Ernest is active in the community and serves on various boards, including the San Jacinto County Fair Association, San Jacinto County Farm Bureau, and the SISD Technology Advisory Committee.

Contact Info

Capitol Address:
District Address:

Room E2.812

P.O. Box 2910

Austin, TX 78768

(512) 463-0570


PO Box 1116

Shepherd, TX 77371


10501 Hwy 150

Suite B

Shepherd, TX 77371

(936) 628-6687