39-1-62 - Group life insurance for members of National Guard.
39-1-62. Group life insurance for members of National Guard.
The lives of a group comprised solely of members of the Utah National Guard may beinsured under a policy of group life insurance issued to an association of such members formedfor purposes other than obtaining insurance. This association is deemed the policyholder, to insuremembers of the Utah National Guard for the benefit of persons other than the association or anyof its officials, subject to the following requirements:
(1) The premium for the policy shall be paid by the policyholder, either from theassociation's own funds, or from charges collected from the insured members specifically for theinsurance.
(2) No policy may be placed in force unless at least 60% of the members of theassociation, excluding any as to whom evidence of individual insurability is not satisfactory to theinsurer, have elected to be covered.
(3) The amounts of insurance under the policy shall be based upon some plan precludingindividual selection either by the members or by the association. Such amounts may not exceed$100,000 in the case of any member.
(4) Such insurance policy shall conform to the provisions of the Insurance Code in so faras such code is not inconsistent with the provisions of this section.
Amended by Chapter 179, 1983 General Session