376.403. Benefit levels--group coverage may be provided in lieu of converted policy--delivery outside state, form. - Missouri Statutes

Benefit levels--group coverage may be provided in lieu of convertedpolicy--delivery outside state, form.

376.403. 1. If the benefit levels required in subdivision(9) of subsection 1 of section 376.397 exceed the benefitlevels provided under the group policy, the converted policymay offer benefits which are substantially similar to thoseprovided under the group policy in lieu of those required insubdivision (9) of subsection 1 of section 376.397.

2. The insurer may elect to provide group insurancecoverage in lieu of the issuance of an individual convertedpolicy.

3. A converted policy which is delivered outside thisstate may be on a form which could be delivered in such otherjurisdiction as a converted policy had the group policy beenissued in that jurisdiction.

(L. 1981 S.B. 58 § 4)

Effective 1-1-83