509.1 Form of policy. No policy of group life, accident or health insurance shall be delivered in this state unless it conforms to one of the following descriptions: 1. A policy issued to an employer, or to the trustees of a fund established by an employer, which employer or trustee shall be deemed the policyholder, […]
509.10 Other provisions in policies. Any group policy may contain any other provisions which meet the approval of the commissioner of insurance, provided such provisions are not in conflict with the standard provisions of section 509.2 or 509.3. [C24, 27, 31, §8681; C35, §8684-e11; C39, §8684.11; C46, §509.11; C50, 54, 58, 62, 66, 71, 73, […]
509.11 Voting by policyholders. If policyholders are entitled to vote at meetings of a domestic insurance company, each policyholder of a group policy shall be entitled to one vote. [C24, 27, 31, §8682; C35, §8684-e12; C39, §8684.12; C46, §509.12; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §509.11]
509.12 Proceeds exempt from execution. A policy of group insurance and the proceeds of the policy are exempt from execution and attachment to the same extent as provided in chapter 627. [C24, 27, 31, §8683; C35, §8684-e13; C39, §8684.13; C46, §509.13; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §509.12] 88 Acts, […]
509.13 Rules. The commissioner of insurance shall issue rules establishing minimum standards for group Medicare supplement policies and minimum standards for benefits under coverages contained in group Medicare supplement policies. These rules shall be consistent with those rules established for individual Medicare supplement policies pursuant to chapter 514D. The commissioner also shall establish by rule […]
509.14 Group insurance on franchise plan. It shall be lawful for an authorized insurer to issue life, accident and sickness insurance policies on a franchise plan at reduced rates, covering the members of an association, subject to the following: 1. An “association” as referred to herein shall consist of a labor union, trade association, association […]
509.15 Assignment of policy. Any person insured under a group life insurance policy may assign the rights, benefits and all other incidents of ownership conferred on the person by any provision of such policy or by law, including specifically and not by way of limitation the right, if any, to have issued to the person […]
509.16 Premium rates approved. 1. An individual policy of credit life or credit accident and health insurance or certificate under a policy of group credit life or credit accident and health insurance shall not be issued for delivery or delivered in this state unless the premium rates charged for the insurance are approved by the […]
509.17 Guidelines for rates. Rates shall be made in accordance with the following provisions: 1. Rates shall not be excessive, inadequate or unfairly discriminatory. 2. Due consideration shall be given to past and prospective loss experience within and outside this state, to a reasonable margin for underwriting profit and contingencies, to past and prospective expenses […]
509.18 Prohibited deposit in financial institution. A company or its agent licensed to sell a policy of credit life or credit accident and health insurance or certificate under a policy of group credit life or credit accident and health insurance shall not deposit or offer to deposit funds in a financial institution of this state […]
509.19 Claims and premium disclosure. 1. a. A person issuing a policy or contract providing group health benefit coverages to a group of fifty-one or more eligible employees as defined in chapter 513B shall provide to the policyholder, contract holder, or sponsor of the group health benefit plan, upon request, annually, but not more than […]
509.2 Provisions as part of group life policy. No policy of group life insurance shall be delivered in this state unless it contains in substance the following provisions, or provisions which in the opinion of the commissioner are more favorable to the persons insured or at least as favorable to the persons insured, and more […]
509.3 Provisions as part of accident or health policy. 1. All policies of group accident or health insurance or combination thereof issued in this state shall contain in substance the following provisions: a. The policy shall have a provision that a copy of the application, if any, of the policyholder shall be attached to the […]
509.3A Creditable coverage. For the purposes of any policies of group accident or health insurance or combination of such policies issued in this state, “creditable coverage” means health benefits or coverage provided to an individual under any of the following: 1. A group health plan. 2. Health insurance coverage. 3. Part A or Part B […]
509.4 Employees of common employer — rates. An insurer may issue policies of individual life, accident, health, hospital, medical, or surgical insurance or any combination thereof at reduced rates to employees of a common employer including the state, a county, school district, city, or institution supported in whole or in part by public funds, but […]
509.5 Authorized companies. 1. Any level premium life insurance company, organized on the stock or mutual plan and authorized to transact business under the provisions of chapter 508 may, upon complying with the provisions of said chapter and of this chapter, issue contracts providing for group life, or health, or accident insurance, or combinations thereof […]
509.6 Approval of commissioner. No policy or certificate of group insurance shall be issued in this state until the form thereof has been filed with the commissioner of insurance and approved by the commissioner. [C24, 27, 31, §8678; C35, §8684-e7; C39, §8684.07; C46, §509.7; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, […]
509.7 Grounds for revocation of authority. Failure to comply with section 509.6 shall be deemed sufficient grounds for revocation of the certificate of authority of any company so violating. [C35, §8684-e8; C39, §8684.08; C46, §509.8; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §509.7]
509.8 Foreign policies. Policies of group insurance issued in other states or countries by companies organized in this state may contain any provision required by the laws of the state, territory, district, or country in which the same are issued, anything in section 509.6 to the contrary notwithstanding. [C24, 27, 31, §8679; C35, §8684-e9; C39, […]
509.9 Foreign companies. Policies of group insurance, when issued in this state by any company not organized under the laws of this state, may contain when issued any provision required by the law of the state, territory, or district of the United States under which the company is organized. [C24, 27, 31, §8680; C35, §8684-e10; […]
