Changes may be on the horizon in South Carolina for the procedure for life insurers seeking to rescind policies based on material misrepresentations in the application. The South Carolina Legislature is considering adding a provision to the Insurance Code providing that rescission can occur only if either (a) there is a mutual rescission agreement executed by all parties, or (b) the insurer initiates a court proceeding for rescission. This is consistent with the pronouncement by the South Carolina Department of Insurance in Bulletin No. 2019-02 that unilateral rescissions are impermissible under South Carolina law.