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New Mexico Life Insurance: What you need to know

Employers have no obligation under New Mexico 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 (NM Stat. Sec. 59A-21-1et seq.).
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Group characteristics. The group must include all employees belonging to the class defined as eligible for coverage and may include the employees of subsidiary corporations, the employees of affiliated businesses that are under common control, individual proprietors or partners, retired employees, and directors of a corporate employer.
Beneficiary. The employee can name anyone except the employer as beneficiary.
Employer/employee contributions. Employers are not required to make any contribution toward the cost of group insurance. If the employer pays the entire cost, all employees in the eligible class must be covered by the policy except those who reject such coverage in writing and those the insurer determines are not insurable.
Coverage of dependents. A group plan may provide coverage for an employee's spouse and children up to the age of 21 (or age 25 if enrolled in an educational institution). The premiums for the insurance on dependents may be paid by the employer, by the employee, or by both the employer and the employee.
Continuation during period of total disability. If active employment is a condition for coverage, a group policy must allow an employee to continue coverage for up to 6 months during a period of total disability by timely payment of the employee's share of the premium.
Conversion. Employees, as well as their spouses and minor children, are guaranteed the right to convert group coverage to an individual policy in the event ...

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