20-1257
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20-1257. Coverage of dependents; definition A. Insurance under any group life insurance policy that is issued pursuant to section 20-1252, 20-1254 or 20-1255 may be extended to insure the dependents, or any class or classes of dependents, of each insured person who so elects, in amounts in accordance with a plan that precludes individual selection by the insured persons or by the policyholder and that on the life of any one dependent or the spouse of an insured person shall not be more than one hundred per cent of the insurance on the life of the insured person. B. Premiums for any dependent coverage issued pursuant to this section shall be paid by the policyholder, from the policyholder's monies, from monies contributed by the policyholder or from monies contributed by the persons insured under the group policy or from any or all of those sources. C. A dependent insured pursuant to this section has the same conversion right as to the insurance on the dependent insured's life as is vested by the terms of the group policy in the persons insured under the group policy. D. For the purposes of this section, "dependent" means the spouse of an insured person, the minor children of an insured person and any other children of an insured person as provided in the group life insurance policy. |