N.Y. Comp. Codes R. & Regs. tit. 11 § 46.10

Current through Register Vol. 46, No. 43, October 23, 2024

Section 46.10 - Special rules for group life insurance

(a) An unemployment lapse protection may not be written in conjunction with group life insurance if the continuation of the group life insurance is dependent on the employment of the insured, unless the group life coverage is reinstated once any waiting period is satisfied. As a condition of reinstatement the group policy may require the surrender of any conversion policy obtained by the insured based on the termination of the group life insurance.

(b) Notwithstanding any actively at work requirement contained in the group policy, a group policy may allow for the group life coverage to continue during the lapse protection benefit waiting period provided that the policy is clear regarding who (i.e., policyholder and/or certificateholder) is responsible for the payment of premiums during the waiting period.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 46.10