§ 27-4.8-6 - Supplementary bill relating to conversion privileges.
SECTION 27-4.8-6
§ 27-4.8-6 Supplementary bill relating toconversion privileges. – If an individual insured under a group life insurance policy hereafterdelivered in this state becomes entitled under the terms of the policy to havean individual policy of life insurance issued without evidence of insurability,subject to making of application and payment of the first premium within theperiod specified in the policy, and if the individual is not given notice ofthe existence of the right at least fifteen (15) days prior to the expirationdate of the period, then in that event the individual shall have an additionalperiod within which to exercise the right, but nothing herein contained shallbe construed to continue any insurance beyond the period provided in thepolicy. This additional period shall expire fifteen (15) days next after theindividual is given notice but in no event shall the additional period extendbeyond sixty (60) days after the expiration date of the period provided in thepolicy. Written notice presented to the individual or mailed by the policyholder to the last known address of the individual or mailed by the insurer tothe last known address of the individual as furnished by the policyholder shallconstitute notice for the purpose of this paragraph.