Section 27-18-6 – Policy Provisions – Insurability.
Section 27-18-6 Policy provisions – Insurability. The group life insurance policy shall contain a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability, satisfactory to the insurer as a condition to part or all of his coverage. […]
Section 27-18-7 – Policy Provisions – Adjustment of Premiums And/or Benefits.
Section 27-18-7 Policy provisions – Adjustment of premiums and/or benefits. The group life insurance policy shall contain a provision specifying an equitable adjustment of premiums or of benefits, or of both, to be made in the event the age of a person insured has been misstated, such provision to contain a clear statement of the […]
Section 27-18-8 – Policy Provisions – Furnishing of Statement to Debtors.
Section 27-18-8 Policy provisions – Furnishing of statement to debtors. In the case of a policy issued to a creditor to insure debtors of such creditor, there shall be a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a form which will contain a statement […]
Section 27-18-9 – Policy Provisions – Payment of Benefits.
Section 27-18-9 Policy provisions – Payment of benefits. The group life insurance policy shall contain a provision that any sum becoming due by reason of the death of the person insured shall be payable to the beneficiary designated by the person insured, subject to the provisions of the policy in the event there is no […]
Section 27-18-10 – Policy Provisions – Individual Certificates.
Section 27-18-10 Policy provisions – Individual certificates. The group life insurance policy shall contain a provision that the insurer will issue to the policyholder for delivery to each person insured an individual certificate setting forth a statement as to the insurance protection to which he is entitled, to whom the insurance benefits are payable and […]
Section 27-18-11 – Policy Provisions – Conversion – Termination of Eligibility.
Section 27-18-11 Policy provisions – Conversion – Termination of eligibility. The group life insurance policy shall contain a provision that if the insurance, or any portion of it, on a person covered under the policy ceases because of termination of employment or of membership in the class, or classes, eligible for coverage under the policy, […]
Section 27-18-12 – Policy Provisions – Conversion – Termination of Policy.
Section 27-18-12 Policy provisions – Conversion – Termination of policy. The group life insurance policy shall contain a provision that if the group policy terminates, or is amended so as to terminate the insurance of any class of insured persons, every person insured thereunder at the date of such termination whose insurance terminates and who […]
Section 27-18-13 – Policy Provisions – Conversion – Death During Conversion Period.
Section 27-18-13 Policy provisions – Conversion – Death during conversion period. The group life insurance policy shall contain a provision that if a person insured under the policy dies during the period within which he would have been entitled to have an individual policy issued to him in accordance with Sections 27-18-11 and 27-18-12 and […]
Section 27-18-14 – Notice as to Conversion Rights.
Section 27-18-14 Notice as to conversion rights. If any individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of such policy to have an individual policy of life insurance issued to him without evidence of insurability, subject to making of application and payment of the first […]
Section 27-18-15 – Employee Life Insurance.
Section 27-18-15 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 any employer and where such policies are issued on the lives of not less than three employees at date […]