Cal. Ins. Code § 10203.9

Current through the 2023 Legislative Session.

Section 10203.9 - Group life policy issued to replace existing group life policy

In addition to the other specific circumstances under which a group life policy may be issued under this chapter a group life policy may be issued to an existing insured to replace an existing valid group life policy if:

(1)it provides the same benefits at the same or a lesser rate as the policy to be replaced:

(2) it offers such benefits to all persons covered by the policy to be replaced; and

(3) 90 percent of all persons covered by the policy to be replaced become insured under the new policy.

Ca. Ins. Code § 10203.9

Added by Stats. 1955, Ch. 664.