40-435. Group life insurance; conversion privileges; notice. - Kansas Statutes

40-435

Chapter 40.--INSURANCE Article 4.--GENERAL PROVISIONS RELATING TO LIFE INSURANCE COMPANIES

      40-435.   Group life insurance; conversion privileges; notice.If any individual insured under a group life insurance policydelivered in this state becomes entitled under the terms of such policy tohave an individual policy of life insurance issued to such insuredwithout evidenceof insurability, subject to making application and payment of the firstpremium within the period specified in such policy, and if such individualis not given notice of the existence of such right at least15days prior to the expiration date of such period, then, in such event theindividual shall have an additional period within which to exercise suchright, but, except as provided in subsection (10) of K.S.A. 40-434, andamendmentsthereto, nothing contained in this section shall beconstrued to continue anyinsurance beyond the period provided in such policy. The additional periodshall expire 15 days next after the individual is givensuchnotice but in no event shall such additional period extend beyond 60 days nextafter the expiration date of the period provided insuchpolicy. Written notice presented to the individual or mailed by thepolicyholder to the last known address of the individual or mailed by theinsurer to the last known address of the individual as furnished by thepolicyholder shall constitute notice for the purpose of thissection.

      History:   L. 1951, ch. 301, § 3;L. 1994, ch. 17, § 1; March 17.