Okla. Stat. tit. 36, § 36-4103

A. No policy of group life insurance shall be delivered in this

state unless it contains in substance the following provisions, or

provisions which are more favorable to the persons insured, or at

least as favorable to the persons insured and more favorable to the

policyholder; provided, however, that:

1. Paragraphs 6 through 10 of this section shall not apply to

policies issued to a creditor to insure debtors of such creditor;

2. That the standard provisions required for individual life

insurance policies shall not apply to group life insurance policies;

and

3. That if the group life insurance policy is on a plan of

insurance other than the term plan, it shall contain a nonforfeiture

provision or provisions which is or are equitable to the insured

persons and to the policyholder, but nothing herein shall be

construed to require that group life insurance policies contain the

same nonforfeiture provisions as are required for individual life

insurance policies:

B. A provision that the policyholder is entitled to a grace

period of thirty-one (31) days for the payment of any premium due

except the first, during which grace period the death benefit

coverage shall continue in force, unless the policyholder shall have

given the insurer written notice of discontinuance in advance of the

date of discontinuance and in accordance with the terms of the

policy. The policy may provide that the policyholder shall be

liable to the insurer for the payment of a pro rata premium for the

time the policy was in force during such grace period.

C. A provision that the validity of the policy shall not be

contested, except for nonpayment of premiums, after it has been in

force for two (2) years from its date of issue, and that no

statement made by any person insured under the policy relating to

his or her insurability shall be used in contesting the validity of

the insurance with respect to which such statement was made after

such insurance has been in force prior to the contest for a period

of two (2) years during such person's lifetime nor unless it is

contained in a written instrument signed by him or her.

D. A provision that a copy of the application, if any, of the

policyholder shall be attached to the policy when issued, that all

statements made by the policyholder or by the persons insured shall

be deemed representations and not warranties, and that no statement

made by any person insured shall be used in any contest unless a

copy of the instrument containing the statement is or has been

furnished to such person or to his or her beneficiary.

Oklahoma Statutes - Title 36. Insurance Page 925

E. A provision setting forth the conditions, if any, under

which the insurer reserves the right to require a person eligible

for insurance to furnish evidence of individual insurability

satisfactory to the insurer as a condition to part or all of his or

her coverage.

F. A provision specifying an equitable adjustment of premiums

or of benefits or of both to be made in the event the age of a

person insured has been misstated, such provision to contain a clear

statement of the method of adjustment to be used.

G. A provision that any sum becoming due by reason of the death

of the person insured shall be payable to the beneficiary designated

by the person insured, subject to the provisions of the policy in

the event there is no designated beneficiary as to all or any part

of such sum, living at the death of the person insured, and subject

to any right reserved by the insurer in the policy and set forth in

the certificate to pay at its option a part of such sum not

exceeding Five Hundred Dollars ($500.00) to any person appearing to

the insurer to be equitably entitled thereto by reason of having

incurred funeral or other expenses incident to the last illness or

death of the person insured.

H. A provision that the insurer will issue to the policyholder
the insurer in the policy and set forth in

the certificate to pay at its option a part of such sum not

exceeding Five Hundred Dollars ($500.00) to any person appearing to

the insurer to be equitably entitled thereto by reason of having

incurred funeral or other expenses incident to the last illness or

death of the person insured.

H. A provision that the insurer will issue to the policyholder

for delivery to each person insured an individual certificate

setting forth a statement as to the insurance protection to which he

is entitled, to whom the insurance benefits are payable, and the

rights and conditions set forth in paragraphs 8, 9 and 10 of this

section.

I. A provision that if the insurance, or any portion of it, on

a person covered under the policy ceases because of termination of

employment or of membership in the class or classes eligible for

coverage under the policy, such person shall be entitled to have

issued to him or her by the insurer, without evidence of

insurability, an individual policy of life insurance without

disability or other supplementary benefits, provided an application

for the individual policy shall be made, and the first premium paid

to the insurer, within thirty-one (31) days after such termination,

and provided further that:

a. the individual policy shall, at the option of such

person, be on any one of the forms, except term

insurance, then customarily issued by the insurer at

the age and for the amount applied for,

b. the individual policy shall be in an amount not in

excess of the amount of life insurance which ceases

because of such termination, less, in the case of a

person whose membership in the class or classes

eligible for coverage terminates but who continues in

employment in another class, the amount of any life

insurance for which such person is or becomes eligible

Oklahoma Statutes - Title 36. Insurance Page 926

within thirty-one (31) days after such termination

under any other group policy; provided that any amount

of insurance which shall have matured on or before the

date of such termination as an endowment payable to

the person insured, whether in one sum or in

installments or in the form of an annuity, shall not,

for the purposes of this subparagraph, be included in

the amount which is considered to cease because of

such termination, and

c. the premium on the individual policy shall be at the

insurer's then customary rate applicable to the form

and amount of the individual policy, to the class of

risk to which such person then belongs, and to his or

her age attained on the effective date of the

individual policy.

J. A provision that if the group policy terminates or is

amended so as to terminate the insurance of any class of insured

persons, every person insured thereunder at the date of such

termination whose insurance terminates and who has been so insured

for at least five (5) years prior to such termination date shall be

entitled to have issued to him or her by the insurer an individual

policy of life insurance, subject to the same conditions and

limitations as are provided by paragraph 8 of this section, except

that the group policy may provide that the amount of such individual

policy shall not exceed the smaller of:

a. the amount of the person's life insurance protection

ceasing because of the termination or amendment of the

group policy, less the amount of any life insurance

for which he or she is or becomes eligible under any

group policy issued or reinstated by the same or

another insurer within thirty-one (31) days after such

termination, and

b. Ten Thousand Dollars ($10,000.00).

K. A provision that if a person insured under the group policy

dies during the period within which he or she would have been

entitled to have an individual policy issued to him or her in

accordance with paragraph I or J of this section and before such an

individual policy shall have become effective, the amount of life
) days after such

termination, and

b. Ten Thousand Dollars ($10,000.00).

K. A provision that if a person insured under the group policy

dies during the period within which he or she would have been

entitled to have an individual policy issued to him or her in

accordance with paragraph I or J of this section and before such an

individual policy shall have become effective, the amount of life

insurance which he or she would have been entitled to have issued to

him or her under such individual policy shall be payable as a claim

under the group policy, whether or not application for the

individual policy or the payment of the first premium therefor has

been made.

L. In the case of a policy issued to a creditor to insure

debtors of such creditor, a provision that the insurer will furnish

to the policyholder for delivery to each debtor insured under the

policy a form which shall contain a statement that the life of the

Oklahoma Statutes - Title 36. Insurance Page 927

debtor is insured under the policy and that any death benefit paid

thereunder by reason of his or her death shall be applied to reduce

or extinguish the indebtedness.