Skip to main content
Find a Lawyer

Alaska Statutes Title 21. Insurance § 21.48.010. Group requirements for group contracts

Current as of January 01, 2022 | Updated by FindLaw Staff

(a) A group life insurance policy may not be issued for delivery in this state unless the group is a bona fide association or the group was formed for purposes other than obtaining insurance or is a trust established, adopted, or participated in by one or more employers or labor unions or by one or more employers and labor unions, and

(1) the policy covers at least two individuals at the date of issue;

(2) an individual eligible for coverage is subject to uniformly applied standards of insurability as may be imposed by the insurer;

(3) amounts of group life insurance are determined based on some plan that will preclude individual selection;

(4) the group life insurance policy is in compliance with the other applicable provisions of this chapter; and

(5) the group meets other requirements established by the director in regulation.

(b) This section does 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.

(e) A group life insurance policy may be issued to a group that does not meet one or more of the requirements under (a) of this section only if the director finds that issuance

(1) is in the best interests of the public;

(2) results in economies of acquisition or administration; and

(3) meets other requirements established by the director in regulation.

(f) An insurer shall submit to the director information satisfactory to the director that the group meets the requirements of (a) or (e) of this section, and the director must affirmatively approve of the group before an insurer may issue a group life policy to a group under (a) or (e) of this section.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Alaska Statutes Title 21. Insurance § 21.48.010. Group requirements for group contracts - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-21-insurance/ak-st-sect-21-48-010/

Read this complete Alaska Statutes Title 21. Insurance § 21.48.010. Group requirements for group contracts on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Search all Alaska Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard