North Dakota Life Insurance laws & HR compliance analysis

North Dakota Life Insurance: What you need to know

Employers have no obligation under North Dakota 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 (ND Stat. Sec. 26.1-33-11et seq.).
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Employer contributions. Employers are not required to make any contribution toward the cost of group insurance.
Coverage of dependents. A group plan may provide coverage for dependents of insured employees.
Conversion. Employees, as well as their dependents, 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 member ceases for any other reason to be part of the class eligible for coverage.
An individual who has been insured for 5 years and loses coverage because the policy terminates, or is amended to terminate coverage for a class of insureds, also must be allowed to convert to an individual policy. This type of individual policy may be limited to $10,000 of coverage.
If the right to conversion is conditioned on making application and payment of the first premium within a time period specified in the policy, notice of the right to convert must be given at least 15 days before the end of that time period. If the notice is not provided on time, the time period for applying for a conversion policy does not expire until 15 days after the notice is actually provided. Written notice presented to the individual or mailed to the last-known address of the individual, or notice of the right of conversion included in a certificate provided to each employee, or notice provided by the attachment of a separate notice to the certificate constitutes notice for this ...

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North Dakota Life Insurance Resources

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