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Vermont Life Insurance: What you need to know

Employers have no obligation under Vermont 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 (VT Stat. Tit. 8 Sec. 3801et seq.).
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Group characteristics. The group to be insured must consist of no fewer than two people. The group must include all employees belonging to the class defined as eligible for coverage determined by conditions pertaining to their employment. The eligible employees may include retired employees; employees of one or more subsidiary corporations; employees, individual proprietors, and partners of one or more affiliated corporations; and proprietors, partnerships, or retired employees. Directors of a corporate employer may not be covered unless otherwise eligible as a bona fide employee of the corporation by 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 required to contribute at least part of the cost of group insurance. If the employer pays the entire cost, all employees in the eligible class, except those determined to be uninsurable, must be covered by the policy. If employees pay part of the premium, 75 percent of employees in the eligible class, except those determined to be uninsurable, must be covered by the policy.
Dependents. The policy may be extended to cover employees' spouses and children.
Conversion. Employees, as well as their spouses, are guaranteed the right to convert group coverage to an individual policy in the event that the group member's employment is terminated or the individual ...

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