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. § 3821)
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§ 3821. Conversion on termination of policy
The group life insurance policy shall contain a provision that if the group policy
terminates or is amended so as to terminate the insurance of any class of insured
persons, every person insured thereunder at the date of such termination whose insurance
terminates and who has been so insured for at least five years prior to such termination
date shall be entitled to have issued to him or her by the insurer an individual policy
of life insurance, subject to the same conditions and limitations as are provided
by section 3820 of this title except that the group policy may provide that the amount of such individual policy
shall not exceed the smaller of:
(1) the amount of the person’s life insurance protection ceasing because of the termination
or amendment of the group policy, less the amount of any life insurance for which
he or she is or becomes eligible under any group policy issued or reinstated by the
same or another insurer within 31 days after such termination; or
(2) $2,000.00. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 2, subch. 6, § 21).)