Sec. 21.48.200. Death pending conversion.
The group life insurance policy must contain a provision that if a person insured under the policy dies during the period within which the person would have been entitled to have an individual policy issued in accordance with AS 21.48.180 or 21.48.190 and before the individual policy becomes effective, the amount of life insurance that […]
Sec. 21.48.210. Notice as to conversion right.
If an individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of the policy to have an individual policy of life insurance issued without evidence of insurability, subject to making application and paying the first premium within the period specified in the policy, and if the […]
Sec. 21.48.220. Employee life insurance.
“Employee life insurance” is that plan of life insurance, other than salary savings life insurance or pension trust insurance and annuities, under which individual policies are issued to the employees of an employer and where the policies are issued on the lives of not less than five nor more than 10 employees at the date […]
Sec. 21.48.010. Group requirements for group contracts.
(a) A group life insurance policy may not be issued for delivery in this state unless the group is a bona fide association or the group was formed for purposes other than obtaining insurance or is a trust established, adopted, or participated in by one or more employers or labor unions or by one or […]
Sec. 21.48.230. Violations.
Violations of this chapter are subject to the penalties provided by AS 21.97.020.
Sec. 21.48.060. Debtor groups.
The lives of a group of individuals may be insured under a policy issued to a creditor, who shall be considered the policyholder, to insure the debtors of the creditor, subject to the following requirements: (1) the debtors eligible for insurance under the policy shall be all of the debtors of the creditor whose indebtedness […]
Sec. 21.48.070. Credit union group.
The lives of a group of individuals may be insured under a policy issued to a credit union organized under the laws of the state or the Federal Credit Union Act, which shall be considered the policyholder, to insure eligible members for amounts of insurance not in excess of the share balance of each member, […]
Sec. 21.48.100. Provisions required in group contracts.
A policy of group life insurance may not be delivered in this state unless it contains in substance the provisions set out in AS 21.48.110 – 21.48.200 or provisions that in the opinion of the director are more favorable to the persons insured, or at least as favorable to the persons insured and more favorable […]
Sec. 21.48.110. Grace period.
The group life insurance policy must contain a provision that the policyholder is entitled to a grace period of 31 days for the payment of a premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder gave the insurer written notice of discontinuance in advance […]
Sec. 21.48.120. Incontestability.
The group life insurance policy must contain a provision that the validity of the policy may not be contested, except for nonpayment of premium, after it has been in force for two years from its date of issue; and that a statement made by a person insured under the policy relating to that person’s insurability […]