41-2011. GRACE PERIOD. The group life insurance policy shall contain a provision that the policyholder is entitled to a grace period of thirty-one (31) days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.
History:
[41-2011, added 1961, ch. 330, sec. 476, p. 645.]
Structure Idaho Code
Chapter 20 - GROUP LIFE INSURANCE
Section 41-2001 - SCOPE OF CHAPTER — SHORT TITLE.
Section 41-2002 - GROUP CONTRACTS MUST MEET GROUP REQUIREMENTS.
Section 41-2003 - EMPLOYEE GROUPS.
Section 41-2004 - LABOR UNION GROUPS.
Section 41-2005 - DEBTOR GROUPS.
Section 41-2006 - PUBLIC EMPLOYEE GROUPS.
Section 41-2007 - TRUSTEE GROUPS.
Section 41-2008 - CREDIT UNION GROUPS.
Section 41-2009 - DEPENDENTS’ COVERAGE.
Section 41-2010 - PROVISIONS REQUIRED IN GROUP CONTRACTS.
Section 41-2011 - GRACE PERIOD.
Section 41-2012 - INCONTESTABILITY.
Section 41-2013 - APPLICATION — STATEMENTS DEEMED REPRESENTATIONS.
Section 41-2014 - INSURABILITY.
Section 41-2015 - MISSTATEMENT OF AGE.
Section 41-2016 - PAYMENT OF BENEFITS.
Section 41-2017 - CERTIFICATE.
Section 41-2018 - CONVERSION ON TERMINATION OF ELIGIBILITY.
Section 41-2019 - CONVERSION ON TERMINATION OF POLICY.
Section 41-2020 - DEATH PENDING CONVERSION.
Section 41-2021 - NOTICE AS TO CONVERSION RIGHT.
Section 41-2022 - READJUSTMENT OF PREMIUM.
Section 41-2023 - APPLICATION OF DIVIDENDS — RATE REDUCTIONS.