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- Alaska Statutes.
- Title 21. Insurance
- Chapter 48. Group Life Insurance
- Section 10. Group Requirements For Group Contracts.
previous: Chapter 48
. Group Life Insurance
next: Section 20
. - 21.48.050l Employee, Union, Trustee, and Public Employee Groups. [Repealed, Sec. 3 Ch 30 SLA 1984].
AS 21.48.010. Group Requirements For Group Contracts.
- (a) A group life insurance policy may not be delivered in this state insuring the lives of more than one individual unless
- (1) the policyholder was formed for purposes other than obtaining insurance or is a trust established by one or more
employers or labor unions or by one or more employers and labor unions;
- (2) the policy covers at least two individuals at the date of issue;
- (3) an individual eligible for coverage is subject to uniformly applied standards of insurability as may be imposed by the
- (4) amounts of group life insurance are determined based on some plan that will preclude individual selection; and
- (5) the group life insurance contract is in compliance with the other applicable provisions of this chapter.
- (b) The provisions of (a) of this section do not apply to life insurance policies
- (1) insuring only individuals related by blood, marriage, or legal adoption;
- (2) insuring only individuals having a common interest through ownership of a business enterprise, or a substantial legal
interest or equity in a business enterprise, and who are actively engaged in its management; or
- (3) insuring only individuals otherwise having an insurable interest in each other's lives.
- (c) Insurance under a group life insurance policy may be extended to insure dependents. Notwithstanding AS 21.48.170
, only one certificate need be issued for delivery to an insured person if a statement concerning a dependent's
coverage is included in the certificate.
- (d) In this section, "dependents" means the spouse and dependent children of an employee or member of the group.
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