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. § 3812)
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§ 3812. Provisions required in group contracts
No policy of group life insurance shall be delivered in this State unless it contains
in substance the provisions set forth in sections 3813 through 3822 of this title or provisions that in the opinion of the Commissioner are more favorable to the persons
insured, or at least as favorable to the persons insured and more favorable to the
policyholder; except, however, that:
(1) Sections 3818 to 3822 inclusive shall not apply to policies issued to a creditor to
insure debtors of such creditor.
(2) The standard provisions required for individual life insurance policies shall not
apply to group life insurance policies.
(3) If the group life insurance policy is on a plan of insurance other than the term plan,
it shall contain a nonforfeiture provision or provisions that in the opinion of the
Commissioner is or are equitable to the insured persons and to the policyholder, but
nothing herein shall be construed to require that group life insurance policies contain
the same nonforfeiture provisions as are required for individual life insurance policies. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 2, subch. 6, § 12).)