N.J. Admin. Code § 11:4-42.13

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-42.13 - Conversion of group life insurance coverage to an individual life insurance policy

(a) An insurer, in providing the conversion right required by N.J.S.A. 17B:27-19, shall treat the retirement of a covered person under a policy providing group life insurance as a termination of employment and shall permit the covered person to obtain, without evidence of insurability, an individual policy of life insurance.

(b) An insurer shall provide for a right of conversion to an individual policy for the amount of coverage that terminates when a covered person is transferred or transfers from one class of employee to another class of employee.