Oregon Life Insurance: What you need to know

Employers have no obligation under Oregon 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 (OR Rev. Stat. Sec. 743.303et seq.).
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Group characteristics. At least two employees must be covered on the date the policy is issued.
Employer/employee contributions. Employers are not required to make any contribution toward the cost of group insurance. The premium may be paid from funds contributed by the employer, from funds contributed by the employees, or from both.
Amount of insurance. The amount of insurance offered must be based on some plan precluding individual selection, except that optional supplemental insurance may be available to persons insured under the policy, if the amounts of such supplemental insurance are based upon age, salary, rank, or similar objective standards.
Conversion. Employees are guaranteed the right to convert group coverage to an individual policy up to the amount of the terminated coverage in the event that the worker's employment is terminated or the worker ceases for any other reason to be a member of the class eligible for coverage. The employee may elect a policy in any one of the forms, except term insurance, that the insurer customarily issues to individuals the age of the employee and in the amount applied for. The employee must apply for the individual coverage within 31 days after the group coverage terminates. Premiums are at the rate applicable to the form and amount of the individual policy, and the age and class of risk of the insured person.
If the group policy itself terminates, or is amended so as to terminate the insurance of any ...

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