US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 20
                             GROUP LIFE INSURANCE
    41-2019.  CONVERSION ON 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 has been so insured for at least five (5) years
prior to such termination date shall be entitled to have issued to him by the
insurer an individual policy of life insurance, subject to the same conditions
and limitations as are provided by section 41-2018, except that the group
policy may provide that the amount of such individual policy shall not exceed
the smaller of:
    (1)  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 he is or becomes eligible under any group policy
issued or reinstated by the same or another insurer within thirty-one (31)
days after such termination, and
    (2)  Two thousand dollars ($2,000).