Section 500.4426 - Extension of coverage to eligible dependents of insured; amounts; payment of premiums.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.4426 Extension of coverage to eligible dependents of insured; amounts; payment of premiums.
Sec. 4426.
(1) Insurance under any group life insurance policy issued pursuant to sections 4400, 4404, 4408, 4412, 4420 and 4424 may be extended to insure the eligible dependents of each insured employee or member who so elects.
(2) The amounts of dependent insurance shall be in accordance with a plan which precludes individual selection.
(3) The premiums for the insurance on dependents may be paid by the employer or policyholder, or the employee or member, or the employer or policyholder and the employee or member, jointly.
History: Add. 1972, Act 201, Imd. Eff. June 30, 1972
Popular Name: Act 218