premiums - Conversion rights. A. Insurance under any group life insurance policy issued pursuant to paragraphs 1, 3, 4, 5 and 6 of Section 4101 of this title, may be extended to insure the dependents, or any class or classes thereof, of each insured employee or member who so elects in amounts in accordance with a plan which precludes individual selection. The term "dependent" means the spouse of the insured employee or member or an insured employee's or member's child under twenty-six (26) years of age or his or her child twenty-six (26) years or older who is attending an educational institution and relying upon the insured employee or member for financial support. B. Premiums for the insurance on such dependents shall be paid by the policyholder either wholly from policyholder's funds, or from funds contributed wholly by the employees or members, or partly from funds contributed by the policyholder and partly by the employees or members. C. A dependent pursuant to this section shall have the same conversion right as to the insurance on his or her life as is vested in the employee or union member. D. Notwithstanding the provisions of paragraph 7 of Section 4103 of this title, only one certificate need be issued for each family unit if a statement concerning any dependent's coverage is included in such certificate. Added by Laws 1969, c. 234, § 1, emerg. eff. April 21, 1969. Amended by Laws 1978, c. 162, § 5, eff. Oct. 1, 1978; Laws 1988, c. 29, § 1, eff. Nov. 1, 1988; Laws 1997, c. 418, § 95, eff. Nov. 1, 1997; Laws 2007, c. 125, § 21, eff. July 1, 2007; Laws 2016, c. 73, § 6, eff. Nov. 1, 2016; Laws 2017, c. 287, § 5, eff. Nov. 1, 2017.
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