In the case of a policy insuring the lives of debtors, such a group life insurance policy shall contain a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a certificate of insurance describing the coverage and specifying that the death benefit shall first be applied to reduce or extinguish the indebtedness.
Structure Delaware Code
Chapter 31. GROUP LIFE INSURANCE
§ 3101. Group policies must meet group requirements.
§ 3104. Labor union, employee organization groups.
§ 3109. Requirements for other groups; out-of-state groups.
§ 3110. Disclosure requirements for other groups.
§ 3112. Group life insurance standard provisions.
§ 3115. Application; statements deemed representations.
§ 3120. Conversion on termination of eligibility.
§ 3121. Conversion on termination of policy.
§ 3122. Death pending conversion.
§ 3124. Information to debtors.
§ 3125. Notice as to conversion right.
§ 3126. Readjustment of premium.