2002 Florida Code
TITLE XXXVII INSURANCE
Chapter 627 INSURANCE RATES AND CONTRACTS  
PART V GROUP LIFE INSURANCE POLICIES (ss. 627.551-627.575)
627.558   Provisions required in group contracts.

627.558  Provisions required in group contracts.--No policy of group life insurance shall be delivered in this state unless it contains in substance the provisions set forth in ss. 627.559-627.568 or provisions which in the opinion of the department are more favorable to the persons insured, or at least as favorable to the persons insured and more favorable to the policyholder; except that:

(1)  Sections 627.564-627.568 inclusive do not apply to policies issued to a creditor to insure debtors of such creditor;

(2)  The standard provisions required for individual life insurance policies do not apply to group life insurance policies; and

(3)  If the group life insurance policy is on a plan of insurance other than the term plan, it shall contain a nonforfeiture provision or provisions which in the opinion of the department is or are equitable to the insured persons and to the policyholder, but nothing in this section shall be construed to require that group life insurance policies contain the same nonforfeiture provisions as are required for individual life insurance policies.

History.--s. 531, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 430, 448, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.