Maine Revised Statutes
Chapter 31: GROUP LIFE INSURANCE
24-A §2622. Conversion on termination of policy

§2622. Conversion on termination of policy
The group life insurance policy must contain a provision that if the group policy terminates or is amended so as to terminate the insurance of any class of insured persons, every person insured thereunder at the date of such termination whose insurance terminates, including the insured dependent of a covered person, and who has been so insured for at least 5 years prior to such termination date is entitled to have issued to the person by the insurer an individual policy of life insurance, subject to the same conditions and limitations as are provided by section 2621, except that the group policy may provide that the amount of such individual policy may not exceed the smaller of:   [RR 2021, c. 1, Pt. B, §234 (COR).]
1.  The amount of the person's life insurance protection ceasing because of the termination or amendment of the group policy, less the amount of any life insurance for which the person is or becomes eligible under a group policy issued or reinstated by the same or another insurer within 31 days after such termination; and  
[RR 2021, c. 1, Pt. B, §233 (COR).]
2.  $10,000.  
[PL 1981, c. 150, §26 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1981, c. 150, §26 (AMD). RR 2021, c. 1, Pt. B, §§233, 234 (COR).

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 Group contracts must meet group requirements (REPEALED)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 Debtor groups (REPEALED)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 Labor union groups (REPEALED)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 Trustee groups (REPEALED)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 Trade association groups (REPEALED)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 Municipal employees association groups (REPEALED)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 Professional association groups (REPEALED)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 Credit union groups (REPEALED)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 Dependents' coverage (REPEALED)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 Limit as to amount of insurance (REPEALED)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