Colorado Group Life Insurance

What this document is

Colorado Group Life Insurance - C.R.S. Title 10, Article 7, Part 2 (10-7-201 to 10-7-207) is a state statute published by leg.colorado.gov. It is one of the Colorado documents that insurance license exam questions are written from, including colorado life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• C.R.S. tit. 10 art. 7 § 10-7-207 (Assignment of incidents of ownership)

  “Subject to the terms of the policy or agreement between the insured, the group policyholder, and the insurer, relating to assignment of incidents of ownership thereunder, such an assignment by an insured is valid for the purpose of vesting in the assignee, in accordance with any provisions included...”

• C.R.S. tit. 10 art. 7 § 10-7-202(1)(h) (Policy provisions: conversion to an individual policy)

  “A provision that, if the insurance, or any portion of it, on a person covered under the policy ceases because of termination of employment or of membership in the class eligible for coverage under the policy, the certificate owner shall be entitled to have issued to him by the insurer, without...”

• C.R.S. tit. 10 art. 7 § 10-7-202(1)(j) (Policy provisions: death during the conversion period)

  “A provision that, if a person insured under the group policy dies during the period within which the certificate owner would have been entitled to have an individual policy issued to him in accordance with paragraph (h) or (i) of this subsection (1) and before such an individual policy has become...”

• C.R.S. tit. 10 art. 7 § 10-7-201(1)(a) (Group life insurance: policyholder formation requirement)

  “No policy of group life insurance shall be delivered in this state unless: (a) The policyholder was formed for purposes other than obtaining insurance, or is a trust established by one or more employers or by one or more labor unions, or by one or more employers and one or more labor unions;”

• C.R.S. tit. 10 art. 7 § 10-7-202(2) (Policy provisions: application to spouse coverage)

  “The provisions of paragraphs (h) to (j) of subsection (1) of this section shall apply to any insurance issued pursuant to section 10-7-201 on the life of a spouse of an employee or member.”

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