Okla. Stat. tit. 36, § 36-4215
This is the official text of Okla. Stat. tit. 36, § 36-4215, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Conversion
Official statutory text
There may be a provision in the case of industrial policies
granting to the insured, upon proper written request and upon
presentation of evidence of insurability satisfactory to the
insurer, the privilege of converting any industrial insurance policy
to any form of life insurance with less frequent premium payments
regularly issued by the insurer, in accordance with terms and
conditions agreed upon with the insurer. The privilege of making
such conversion need be granted only if the insurer's industrial
policies on the life insured, in force as premium paying insurance
and on which conversion is requested, grant benefits in event of
death, exclusive of additional accidental death benefits and
exclusive of any dividend additions, in an amount not less than the
minimum amount of such insurance with less frequent premium payments
issued by the insurer at the age of the insured on the plan of
industrial or ordinary insurance desired.
granting to the insured, upon proper written request and upon
presentation of evidence of insurability satisfactory to the
insurer, the privilege of converting any industrial insurance policy
to any form of life insurance with less frequent premium payments
regularly issued by the insurer, in accordance with terms and
conditions agreed upon with the insurer. The privilege of making
such conversion need be granted only if the insurer's industrial
policies on the life insured, in force as premium paying insurance
and on which conversion is requested, grant benefits in event of
death, exclusive of additional accidental death benefits and
exclusive of any dividend additions, in an amount not less than the
minimum amount of such insurance with less frequent premium payments
issued by the insurer at the age of the insured on the plan of
industrial or ordinary insurance desired.
Status: in_force · Read it on the official government site
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