2005 Idaho Code - 41-2018 — CONVERSION ON TERMINATION OF ELIGIBILITY

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 20
                             GROUP LIFE INSURANCE
    41-2018.  CONVERSION ON TERMINATION OF ELIGIBILITY. There shall be 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, such person
shall be entitled to have issued to him by the insurer, without evidence of
insurability, an individual policy of life insurance without disability or
other supplementary benefits, provided application for the individual policy
shall be made, and the first premium paid to the insurer, within thirty-one
(31) days after such termination, and provided further that:
    (1)  The individual policy shall, at the option of such person, be on any
one of the forms, except term insurance, then customarily issued by the
insurer at the age and for the amount applied for;
    (2)  The individual policy shall be in an amount not in excess of the
amount of life insurance which ceases because of such termination less the
amount of any life insurance for which such person is or becomes eligible
under the same or any other group policy within thirty-one (31) days after
such termination, provided that any amount of insurance which shall have
matured on or before the date of such termination as an endowment payable to
the person insured, whether in one sum or in instalments or in the form of an
annuity, shall not, for the purposes of this provision, be included in the
amount which is considered to cease because of such termination; and
    (3)  The premium on the individual policy shall be at the insurer's then
customary rate applicable to the form and amount of the individual policy, to
the class of risk to which such person then belongs, and to his age attained
on the effective date of the individual policy.