Utah Statutes
§ 31A-22-518 — Conversion on termination of policy.
Utah·Title 31A Insurance Code·Ch. 31A-22 Contracts in Specific Lines·Part 31A-22-5 Group Life Insurance
(1)Subject to Subsection (2), if the group policy terminates or is amended to terminate the insurance of any class of covered persons, every insured person whose insurance terminates, including the insured dependent of a covered person who has been insured for at least five years prior to the termination date, is entitled to have the insurer issue to the person an individual policy of life insurance, subject to the conditions and limitations in Section 31A-22-517.
(2)The group policy described in Subsection (1) shall provide that the amount of the individual policy may not be less than the smaller of:
(2)(a) the amount of the person's life insurance protection ceasing because of the termination or amendment of the group policy, less the amount of any life insurance for which the person
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Legislative History
Amended by Chapter 116, 2001 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.