(1) Sections 627.564-627.568 inclusive do not apply to policies issued to a creditor to insure debtors of such creditor;
(2) The standard provisions required for individual life insurance policies do not apply to group life insurance policies; and
(3) If the group life insurance policy is on a plan of insurance other than the term plan, it shall contain a nonforfeiture provision or provisions which in the opinion of the office is or are equitable to the insured persons and to the policyholder, but nothing in this section shall be construed to require that group life insurance policies contain the same nonforfeiture provisions as are required for individual life insurance policies.
History.—s. 531, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 430, 448, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318; s. 1140, ch. 2003-261.
Structure Florida Statutes
Chapter 627 - Insurance Rates and Contracts
Part V - Group Life Insurance Policies (Ss. 627.551-627.575)
627.551 - Group contracts and plans of self-insurance must meet group requirements.
627.5515 - Out-of-state groups.
627.556 - Credit union groups.
627.5567 - Group life insurance; association groups.
627.5575 - Group life insurance for dependents.
627.558 - Provisions required in group contracts.
627.561 - Application; statements deemed representations.
627.563 - Misstatement of age.
627.564 - Payment of benefits.
627.566 - Conversion on termination of eligibility.
627.567 - Conversion on termination of policy.
627.568 - Death pending conversion.
627.5685 - Continuance of coverage during disability.
627.5686 - Waiver of premium for disabled insured.
627.569 - Use of dividends, refunds, rate reductions, commissions, service fees.
627.5725 - Notification to insureds of cancellation or expiration.
627.573 - Replacement or termination of group life insurance; liability of prior insurer.
627.574 - Liability of succeeding insurer on replacement of group policy.