The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
005
:
GROUP LIFE INSURANCE
(Cite as: 8 V.S.A. § 3802)
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§ 3802. Group contracts must meet group requirements
(a) No life insurance policy shall be delivered or issued for delivery in this State insuring
the lives of more than one individual unless to one of the groups as provided for
in sections 3803-3810a of this title, and unless in compliance with the other applicable provisions of this subchapter.
(b) Subsection (a) of this section shall not apply to life insurance policies:
(1) insuring only individuals related by blood, civil 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 therein, and who are actively
engaged in the management thereof; or
(3) insuring only individuals otherwise having an insurable interest in each other’s lives. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 2, subch. 6, § 2); amended 1993, No. 55, § 11, eff. June 3, 1993; 2009, No. 3, § 12a, eff. Sept. 1, 2009.)