11 NCAC 12 .0403             TERMINATION OF LIFE INSURANCE: EMPLOYEE‑EMPLOYER CONTRACTS

Individual life policies issued pursuant to G.S. 58-58-150 may be terminated by the insurance company when the following conditions occur:

(1)           All like policies issued to employees of an employer are terminated;

(2)           When the employee terminates his employment with that employer.

History Note:        Authority G.S. 58-2-40; 58-58-150;

Eff. February 1, 1976;

Readopted Eff. September 26, 1978;

Amended Eff. April 8, 2002;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.