§ 58-51-70. Industrial sick benefit insurance; provisions. - North Carolina Statutes

§58‑51‑70.  Industrial sick benefit insurance; provisions.

Policies issued under theindustrial sick benefit plan shall contain the substance of provisionscontained in G.S. 58‑51‑15 and in addition shall contain thefollowing:

(1)        A provision forgrace for the payment of the additional premium or assessment or proportionthereof for such death benefits of not less than four weeks during which periodthe death benefit shall continue in force;

(2)        A provision forincontestability of the death benefit coverage after not more than two yearsexcept for

a.         Nonpayment ofpremiums, and

b.         Misstatement of age;

(3)        A provision that thedeath benefit is noncancellable by the company except for nonpayment ofpremium.

The Commissioner may approveany form of certificate to be issued under the industrial sick benefit planwhich omits or modifies any of the provisions hereinbefore required, if hedeems such omission or modification suitable for the character of suchinsurance and not unjust to the persons insured thereunder. (1945,c. 385; 1953, c. 1095, s. 4; 1979, c. 755, s. 14.)