Oklahoma Life Insurance: What you need to know

Employers have no obligation under Oklahoma 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 (36 OK Stat. Sec. 4101et seq.).
For a Limited Time receive a FREE HR Report on the "Critical HR Recordkeeping”.  This exclusive special report covers hiring records, employment relationships, termination records, litigation issues, electronic information issues, tips for better recordkeeping, and a list of legal requirements.  Download Now
Group characteristics. The group to be insured must include all employees or all employees belonging to a class determined by conditions pertaining to their employment.
Eligible employees. The policy may provide that employees include the employees of one or more subsidiary or affiliated businesses if the businesses are under common control through stock ownership, contract or otherwise. Employees may include retired employees and may also include individual proprietors and partners who are actively involved in the conduct of the business. The policy may provide that the term “employees” must include retired employees. Corporate directors are eligible for insurance if they are eligible as bona fide employees of the corporation on the basis of performing services other than the usual duties of a director.
Beneficiary. The employee may 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.
Dependents. The policy may be extended to cover dependents. Dependents may include the spouse of the insured employee or children under 21 years of age or over 21 if attending an educational institution and relying on the employee for financial support.
Conversion. Employees, as well as their dependents, are guaranteed the right to convert group ...

>> Read more about Life Insurance

More on this topic:

State Requirements

National | Alabama | Alaska | Arizona | Arkansas | California | Colorado | Connecticut | Delaware | District of Columbia | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Minnesota | Mississippi | Missouri | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Vermont | Virginia | Washington | West Virginia | Wisconsin | Wyoming |

Oklahoma Life Insurance Resources

There are currently no resources for this topic/state.

Life Insurance Products

Healthcare Reform Webinar Recording
BLR Webinar: "Healthcare Reform: What the New Legislation Means for Employers; Get Prepared Now""
Safety Culture Webinar Recording
BLR Webinar: "Safety Culture: How To Assess – and Improve – Your Organization’s Safety Policies and Practices""
Global Rewards Webinar Recording
BLR Webinar: "Global Rewards: Practical Approaches to Successful Multinational Rewards Strategies""
Encyclopedia of Employee Handbooks
This practical tool gives you everything you need to create a customized employee handbook for your company. Includes tips on how to select your format, style and topics, how to prepare your handbook, and samples of employee handbooks and HR policies being used in actual companies. "
Benchmark Benefit Survey: Benefits for Part-Time Employees
In this economy more companies are turning to part-time employees. What sort of benefit package do you offer your part timers? Know what others are doing."
Free Special Reports
Get Your FREE HR Management Special Report. Download Any One Of These FREE Special Reports, Instantly!
Featured Special Report
Claim Your Free Copy of Critical HR Recordkeeping

Record retention is complex and time consuming. However, in addition to complying with various federal and state laws, keeping good, well-organized records can be very helpful in documenting and supporting an organization’s employment actions.
Download Now!

This special report will discuss how you can ensure your records are in good order, and establish a record-retention policy.

Topics covered:
1. Hiring Records
2. Employment Relationships
3. Termination Records
4. Litigation Issues
5. Electronic Information Issues
6. Tips for Better Recordkeeping
7. A List of Legal Requirements

Make sure you have the information you need to know to keep your records in order.