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Iowa Life Insurance: What you need to know

Employers have no obligation under Iowa law to offer life insurance to their employees. However, if group life insurance is among the benefits offered to workers, certain minimum requirements must be satisfied (IA Code Sec. 509.1et seq.).
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Group characteristics. The group must include all employees belonging to the class defined as eligible for coverage. The employees eligible for insurance must be either all the employees of the employer or all of any class or classes defined by employment-related factors.
The policy may provide that the term “employees” includes the employees of one or more subsidiary corporations and the employees, individual proprietors, and partners of one or more affiliated corporations, proprietors, or partnerships of businesses under common control through stock ownership, contract, or otherwise. The policy may provide that the term “employees” includes the individual proprietor or partners if the employer is an individual proprietor or a partnership, retired employees, and members of the board of directors if the employer is a corporation.
Beneficiary. The employee may name anyone except the employer as beneficiary.
Employer/employee contributions. The premium for the group policy may be derived either from the employer's funds or funds contributed by the insured employees, or from both. If the employer pays the entire cost, all employees in the eligible class must be covered by the policy. If the employer pays part of the cost, 75 percent of the employees in the eligible class must be covered by the policy.
Coverage of dependents. A group plan may provide coverage for the spouse and dependent children of insured employees.
Discrimination. A group life insurance policy ...

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