Maine Revised Statutes
Chapter 31: GROUP LIFE INSURANCE
24-A §2612-A. Other groups

§2612-A. Other groups
Group life insurance offered to a resident of this State under a group life insurance policy issued to a group other than one described in sections 2602‑A to 2610‑A is subject to the following requirements.   [PL 1981, c. 150, §16 (NEW).]
1.  No group life insurance policy may be delivered in this State, pursuant to this section, unless the superintendent finds that:  
A. The policyholder is a bona fide group formed for purposes other than the procurement of insurance;   [PL 1987, c. 476, §2 (AMD).]
B. The issuance of the group policy would be actuarially sound;   [PL 1981, c. 150, §16 (NEW).]
C. The issuance of the group policy would result in economies of acquisition or administration; and   [PL 1987, c. 476, §2 (AMD).]
D. The benefits are reasonable in relation to the premiums charged.   [PL 1981, c. 150, §16 (NEW).]
[PL 1987, c. 476, §2 (AMD).]
2.  No group life insurance coverage may be offered in this State, pursuant to this section, by an insurer under a policy issued in another state, unless the superintendent has made a determination that the requirements of subsection 1, paragraphs A, B, C and D have been met.  
[PL 1987, c. 476, §3 (RPR).]
2-A.  Notwithstanding subsections 1 and 2, an employee leasing company registered pursuant to Title 32, chapter 125 qualifies as an eligible group for purposes of the purchase of group life insurance as provided in this section.  
[PL 1995, c. 618, §2 (NEW).]
3.  The premium for the policy shall be paid either from the policyholder's funds or from funds contributed by the covered persons, or from both.  
[PL 1981, c. 150, §16 (NEW).]
4.  An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.  
[PL 1981, c. 150, §16 (NEW).]
SECTION HISTORY
PL 1981, c. 150, §16 (NEW). PL 1987, c. 476, §§2,3 (AMD). PL 1995, c. 618, §2 (AMD).

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 24-A: MAINE INSURANCE CODE

Chapter 31: GROUP LIFE INSURANCE

24-A §2601. Scope of chapter -- short title

24-A §2602. Group contracts must meet group requirements (REPEALED)

24-A §2602-A. Eligible groups

24-A §2603. Employee groups

24-A §2604. Debtor groups (REPEALED)

24-A §2604-A. Debtor groups

24-A §2605. Labor union groups (REPEALED)

24-A §2605-A. Labor union groups

24-A §2606. Trustee groups (REPEALED)

24-A §2606-A. Trustee groups

24-A §2607. Trade association groups (REPEALED)

24-A §2607-A. Association groups

24-A §2608. Municipal employees association groups (REPEALED)

24-A §2609. Professional association groups (REPEALED)

24-A §2610. Credit union groups (REPEALED)

24-A §2610-A. Credit union groups

24-A §2611. Dependents' coverage (REPEALED)

24-A §2611-A. Dependent's coverage

24-A §2612. Limit as to amount of insurance (REPEALED)

24-A §2612-A. Other groups

24-A §2613. Provisions required in group contracts

24-A §2614. Grace period

24-A §2615. Incontestability

24-A §2616. Application; statements deemed representations

24-A §2617. Insurability

24-A §2618. Misstatement of age

24-A §2619. Payment of benefits

24-A §2620. Information as to insurance

24-A §2621. Conversion on termination of eligibility

24-A §2622. Conversion on termination of policy

24-A §2623. Death pending conversion

24-A §2624. Information to debtor

24-A §2625. Notice as to conversion right

24-A §2626. Rate of premiums (REPEALED)

24-A §2627. Application of dividends, rate reductions (REPEALED)

24-A §2627-A. Dividends and experience refunds

24-A §2628. Total disability

24-A §2629. Acquired Immune Deficiency Syndrome

24-A §2630. Suicide