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, […]