(1) Every group life policy which is delivered or issued for delivery in this state or under which benefits are altered, modified, or amended shall provide a reasonable provision for extension of benefits for those individuals who become totally disabled while insured under the policy and who continue to be totally disabled at the date of discontinuance of the policy, as required by subsection (2).
(2) A reasonable provision for extension of benefits in the case of a group life plan is either premium waiver extension, extended death benefit for a period of at least 12 months in the event of total disability, or payment of income for a specified period during total disability. The discontinuance of the group policy shall not operate to terminate such extension.
History.—ss. 2, 3, ch. 79-179; s. 2, ch. 81-318; ss. 447, 448, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.
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.