§ 36-12-12 - Termination of insurance. - Rhode Island Statutes

SECTION 36-12-12

   § 36-12-12  Termination of insurance.– Each contract of insurance purchased under §§ 36-12-6 – 36-12-14shall contain a provision, in terms approved by the director, to the effectthat any insurance thereunder on any employee shall cease upon the terminationof his or her employment subject to a provision which shall be contained in thecontract of insurance for temporary extension of coverage under conditionsapproved by the director and for conversion to an individual policy of lifeinsurance for the employee, except that the director may by appropriate generalregulation provide that an employee who retires, under the provisions of anyretirement system of the state of Rhode Island, with the exception of thatprovided in § 42-28-22, shall have his or her life insurance only, ineffect at the time of retirement, continue in the amounts for which he or shewould have been insured from time to time had his or her salary paymentscontinued at the same rate as on the date of cessation of employment.