reglab/statecodes huggingface dataset:
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2925. Standard provisions; reversionary annuities.

§ 2925. Standard provisions; reversionary annuities.
(a) Except as stated herein, no contract for a reversionary annuity shall be delivered or issued for delivery in this State unless it contains in substance each of the following provisions:
(1) Any such reversionary annuity contract shall contain the provisions specified in §§ 2919-2923 of this title except that under § 2919 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of such payments from an amount payable upon settlement under the contract;
(2) In such reversionary annuity contracts there shall be a provision that the contract may be reinstated at any time within 3 years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract be paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding 6% per annum compounded annually.
(b) This section shall not apply to group annuities or to annuities included in life insurance policies and any of such provisions not applicable to single premium annuities shall not to that extent be incorporated therein.
18 Del. C. 1953, §  2925;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2926. Limitation of liability.

§ 2926. Limitation of liability.
(a) No policy of life insurance shall be delivered or issued for delivery in this State if it contains any of the following provisions:
(1) A provision limiting the time within which an action at law or in equity may be commenced on such a policy to less than 3 years after the cause of action has accrued;
(2) A provision which excludes or restricts liability for death caused in a certain specified manner or occurring while the insured has a specified status, except that a policy may contain provisions excluding or restricting coverage as specified therein in the event of death under any one or more of the following circumstances:
a. Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of such war or action, or of service in the military, naval or air forces or in civilian forces auxiliary thereto, or from any cause while a member of such military, naval or air forces of any country at war, declared or undeclared, or of any country engaged in such military action;
b. Death as a result of aviation or any air travel or flight;
c. Death as a result of a specified hazardous occupation or occupations or avocation;
d. Death while the insured is a resident outside continental United States and Canada; or
e. Death within 2 years from the date of issue of the policy as a result of suicide, while sane or insane.
(b) A policy which contains any exclusion or restriction pursuant to paragraph (a)(2) of this section shall also provide that in the event of death under the circumstances to which any such exclusion or restriction is applicable, the insurer will pay an amount not less than a reserve determined according to the Commissioner's reserve valuation method upon the basis of the mortality table and interest rate specified in the policy for the calculation of nonforfeiture benefits (or if the policy provides for no such benefits, computed according to a mortality table and interest rate determined by the insurer and specified in the policy) with adjustment for indebtedness or dividend credit.
(c) This section shall not apply to group life insurance, health insurance, reinsurance or annuities or to any provision in a life insurance policy or contract supplemental thereto relating to disability benefits or to additional benefits in the event of death by accident or accidental means.
(d) Nothing contained in this section shall prohibit any provision which in the opinion of the Commissioner is more favorable to the policyholder than a provision permitted by this section.
18 Del. C. 1953, §  2926;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2927. Prohibited provisions.

§ 2927. Prohibited provisions.
(a) No life insurance policy, other than industrial life insurance, shall be delivered or issued for delivery in this State, if it contains any of the following provisions:
(1) A provision by which the policy purports to be issued or to take effect more than 1 year before the original application for the insurance was made;
(2) A provision for any mode of settlement at maturity of the policy of less value than the amount insured under the policy, plus dividend additions, if any, less any indebtedness to the insurer on or secured by the policy and less any premium that may by the terms of the policy be deducted;
(3) A provision to the effect that the agent soliciting the insurance is the agent of the person insured under the policy or making the acts or representations of such agent binding upon the person so insured under the policy.
(b) No policy of industrial life insurance shall contain any of the following provisions:
(1) A provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer;
(2) A provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within 2 years prior to the issuance of the policy, received institutional, hospital, medical or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning such treatment or attention was not of a serious nature or was not material to the risk;
(3) A provision giving the insurer the right to declare the policy void because the insured has been rejected for insurance, unless such right be conditioned upon a showing by the insurer that knowledge of such rejection would have led to a refusal by the insurer to make such contract.
18 Del. C. 1953, §  2927;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2928. Provisions required by law of other jurisdiction.

§ 2928. Provisions required by law of other jurisdiction.
The policies of a foreign life insurer when issued in this State may contain any provision which the law of the state, territory, district or country under which the insurer is organized prescribes shall be in such policies, and the policies of a domestic life insurer may, when issued or delivered in any other state, territory, district or country, contain any provisions required by the laws thereof, anything in this chapter to the contrary notwithstanding.
18 Del. C. 1953, §  2928;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2930. Incontestability; limitation of liability after reinstatement.

§ 2930. Incontestability; limitation of liability after reinstatement.
(a) A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance.
(b) When any life insurance policy or annuity contract is reinstated, such reinstated policy or contract may exclude or restrict liability to the same extent that such liability could have been or was excluded or restricted when the policy or contract was originally issued and such exclusion or restriction shall be effective from the date of reinstatement.
18 Del. C. 1953, §  2931;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2931. Participating, nonparticipating policies; right to issue.

§ 2931. Participating, nonparticipating policies; right to issue.
A life insurer may issue policies on either the participating basis or the nonparticipating basis, or on both bases, if the right or absence of right of participation is reasonably related to the premium charged and the insurer is otherwise not in violation of Chapter 23 of this title.
18 Del. C. 1953, §  2932;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2934. Registered policies, bonds; deposit.

§ 2934. Registered policies, bonds; deposit.
Any domestic life insurer shall deposit with the Commissioner securities of the kind required and authorized by law for the investment of life insurance funds, for the common benefit of the holders of its “registered” policies and bonds heretofore issued, which deposit shall be held by him or her and his or her successors in office, in trust for the purposes and objects specified therein.
18 Del. C. 1953, §  2935;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2935. Registered policies, bonds — Identification.

§ 2935. Registered policies, bonds — Identification.
All such registered policies or bonds of each kind and class issued shall have imprinted thereon some appropriate designating letter, combination of letters or terms identifying the special forms of contract, and whenever any change or modification is made in the forms of contracts, policy or bond, the designating letters or terms thereon shall be correspondingly changed.
18 Del. C. 1953, §  2936;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2936. Registered policies, bonds — Records of Commissioner; valuation.

§ 2936. Registered policies, bonds — Records of Commissioner; valuation.
(a) The Commissioner shall prepare and keep such records of all “registered” policies and bonds as will enable him or her to ascertain the reserve required thereon at any time according to the method and basis of valuation prescribed in §§ 1111-1113 of this title. Upon sufficient proof, attested by the president or vice-president and secretary of an insurer which has issued such “registered” policies or bonds, that any of them have been commuted or terminated, the Commissioner shall commute or cancel them upon his or her records.
(b) On December 31 in every year, or within 60 days thereafter, the Commissioner shall cause the registered policies and bonds in force in each insurer to be carefully valued and the net reserve thereon ascertained according to the method and basis of valuation prescribed in §§ 1111-1113 of this title, and he or she shall thereupon furnish a certificate of the aggregate amount of such reserve to the respective insurers. The Commissioner may employ a competent actuary to make such computation, who shall be paid by the insurer for which the services are rendered, or the Commissioner may accept the computations of any of the insurers upon such proof as he or she may determine.
18 Del. C. 1953, §  2937;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2937. Registered policies, bonds — Additional deposits.

§ 2937. Registered policies, bonds — Additional deposits.
Each insurer which shall have registered policies or bonds outstanding shall make additional deposits from time to time, as the Commissioner may prescribe, in amounts of not less than $5,000, and of such securities as domestic life insurers are authorized by law to invest in, so that the market or amortized value of the securities on deposit shall always at least equal the net reserve required by the method and basis of valuation prescribed in §§ 1111-1113 of this title, on all the registered policies and bonds in force in the insurer.
18 Del. C. 1953, §  2938;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2938. Registered policies, bonds — Deficient deposit.

§ 2938. Registered policies, bonds — Deficient deposit.
The Commissioner shall keep a careful record of the securities deposited by each insurer, and when furnishing the annual certificates of value, he or she shall enter thereon the amount and value of the securities deposited by such insurer. If at any time it appears from such certificates or otherwise that the value of securities held on deposit is less than the reserve required by the method and basis of valuation prescribed in §§ 1111-1113 of this title on all the registered policies and bonds in force in such insurer, the insurer shall have made good the deficit. If the insurer fails to make good such deficit for 60 days it shall be deemed insolvent and shall be proceeded against in the manner provided by Chapter 59 (Rehabilitation and Liquidation) of this title.
18 Del. C. 1953, §  2939;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2939. Registered policies, bonds — Effect of insolvency.

§ 2939. Registered policies, bonds — Effect of insolvency.
In case an insurer having securities on deposit as to such registered policies or bonds shall be adjudged insolvent or be dissolved, the proper court shall make and enforce the necessary orders to place said securities, or any part of them, at the sole disposal of the Commissioner.
18 Del. C. 1953, §  2940;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2940. Registered policies, bonds — Applicability of general deposit provisions.

§ 2940. Registered policies, bonds — Applicability of general deposit provisions.
The applicable provisions of Chapter 15 (Administration of Deposits) of this title shall apply as to all deposits relating to such registered policies and bonds, where not inconsistent with the express provisions of §§ 2934-2939 of this title.
18 Del. C. 1953, §  2941;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS › § 2941. Notification and reasons for cancellation [For application of this section, see 79 Del. Laws, c. 390, § 8].

§ 2941. Notification and reasons for cancellation [For application of this section, see 79 Del. Laws, c. 390, § 8].
A notice of cancellation of life insurance coverage by an insurer due to nonpayment of premiums shall be in writing, shall be delivered to the named policyholder or mailed to the named policyholder at the last known address of the named policyholder, shall state the effective date of the cancellation and shall be accompanied by a written explanation of the specific reasons for the cancellation. Proof of mailing of such cancellation notice shall be retained by the insurer for a period of not less than 1 year.
79 Del. Laws, c. 390, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3001. Interstate Insurance Product Regulation Compact.

§ 3001. Interstate Insurance Product Regulation Compact.
The State hereby enters into the Interstate Insurance Product Regulation Compact (“Compact”) as set forth in this chapter. The text of the Compact is as set forth in this chapter.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3002. Purpose and intent.

§ 3002. Purpose and intent.
The purposes of this Compact are, through means of joint and cooperative action among the compacting states, all of the following:
(1) To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long-term care insurance products.
(2) To develop uniform standards for insurance products covered under the Compact.
(3) To establish a central clearinghouse to receive and provide prompt review of insurance products covered under the Compact and, in certain cases, advertisements related thereto, submitted by insurers authorized to do business in 1 or more compacting states.
(4) To give appropriate regulatory approval to those product filings and advertisements satisfying the applicable uniform standard.
(5) To improve coordination of regulatory resources and expertise between state insurance departments regarding the setting of uniform standards and review of insurance products covered under the Compact.
(6) To create the Interstate Insurance Product Regulation Commission.
(7) To perform these and such other related functions as may be consistent with the state regulation of the business of insurance.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3004. Establishment of the Commission and venue.

§ 3004. Establishment of the Commission and venue.
(a) The compacting states hereby create and establish a joint public agency known as the “Interstate Insurance Product Regulation Commission.” Pursuant to § 3005 of this title, the Commission will have the power to develop uniform standards for product lines, receive and provide prompt review of products filed therewith, and give approval to those product filings satisfying applicable uniform standards; provided, it is not intended for the Commission to be the exclusive entity for receipt and review of insurance product filings. Nothing herein shall prohibit any insurer from filing its product in any state wherein the insurer is licensed to conduct the business of insurance, and any such filing shall be subject to the laws of the state where filed.
(b) The Commission is a body corporate and politic, and an instrumentality of the compacting states.
(c) The Commission is solely responsible for its liabilities except as otherwise specifically provided in this Compact.
(d) Venue is proper and judicial proceedings by or against the Commission shall be brought solely and exclusively in a court of competent jurisdiction where the principal office of the Commission is located.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3007. Meetings and acts of the Commission.

§ 3007. Meetings and acts of the Commission.
(a) The Commission shall meet and take such actions as are consistent with the provision of this Compact and the bylaws.
(b) Each member of the Commission shall have the right and power to cast a vote to which that compacting state is entitled and to participate in the business and affairs of the Commission. A member shall vote in person or by such other means as provided in the bylaws. The bylaws may provide for members' participation in meetings by telephone or other means of communication.
(c) The Commission shall meet at least once during each calendar year. Additional meetings shall be held as set forth in the bylaws.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3010. Dispute resolution.

§ 3010. Dispute resolution.
The Commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this Compact and which may arise between 2 or more compacting states, or between compacting states and non-compacting states, and the Commission shall promulgate an operating procedure providing for resolution of such disputes.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3011. Product filing and approval.

§ 3011. Product filing and approval.
(a) Insurers and third-party filers seeking to have a product approved by the Commission shall file the product with, and pay applicable filing fees to, the Commission. Nothing in this chapter shall be construed to restrict or otherwise prevent an insurer from filing its product with the insurance department in any state wherein the insurer is licensed to conduct the business of insurance, and such filing shall be subject to the laws of the states where filed.
(b) The Commission shall establish appropriate filing and review processes and procedures pursuant to Commission rules and operating procedures. Notwithstanding any provision herein to the contrary, the Commission shall promulgate rules to establish conditions and procedures under which the Commission will provide public access to product filing information. In establishing such rules, the Commission shall consider the interests of the public in having access to such information, as well as protection of personal medical and financial information and trade secrets, that may be contained in a product filing or supporting information.
(c) Any product approved by the Commission may be sold or otherwise issued in those compacting states for which the insurer is legally authorized to do business.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3012. Review of Commission decisions regarding filings.

§ 3012. Review of Commission decisions regarding filings.
(a) Not later than 30 days after the Commission has given notice of a disapproved product or advertisement filed with the Commission, the insurer or third-party filer whose filing was disapproved may appeal the determination to a review panel appointed by the Commission. The Commission shall promulgate rules to establish procedures for appointing such review panels and provide for notice and hearing. An allegation that the Commission, in disapproving a product or advertisement filed with the Commission, acted arbitrarily, capriciously, or in a manner that is an abuse of discretion or otherwise not in accordance with the law, is subject to judicial review in accordance with § 3004(d) of this title.
(b) The Commission shall have authority to monitor, review and reconsider products and advertisement subsequent to their filing or approval upon a finding that the product does not meet the relevant uniform standard. Where appropriate, the Commission may withdraw or modify its approval after proper notice and hearing, subject to the appeal process in subsection (a) of this section.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3013. Finance.

§ 3013. Finance.
(a) The Commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operations, the Commission may accept contributions and other forms of funding from the NAIC, compacting states and other sources. Contributions and other forms of funding from other sources shall be of such a nature that the independence of the Commission concerning the performance of its duties shall not be compromised.
(b) The Commission shall collect a filing fee from each insurer and third-party filer filing a product with the Commission to cover the cost of the operations and activities of the Commission and its staff in a total amount sufficient to cover the Commission's annual budget.
(c) The Commission's budget for a fiscal year shall not be approved until it has been subject to notice and comment as set forth in § 3008 of this title.
(d) The Commission shall be exempt from all taxation in and by the compacting states.
(e) The Commission shall not pledge the credit of any compacting state, except by and with the appropriate legal authority of that compacting state.
(f) The Commission shall keep complete and accurate accounts of all its internal receipts, including grants and donations, and disbursements of all funds under its control. The internal financial accounts of the Commission shall be subject to the accounting procedures established under its bylaws. The financial accounts and reports including the system of internal controls and procedures of the Commission shall be audited annually by an independent certified public accountant. Upon the determination of the Commission, but no less frequently than every 3 years, the review of the independent auditor shall include a management and performance audit of the Commission. The Commission shall make an annual report to the Governor and legislature of the compacting states, which shall include a report of the independent audit. The Commission's internal accounts shall not be confidential and such materials may be shared with the commissioner of any compacting state upon request; provided, however, that any work papers related to any internal or independent audit and any information regarding the privacy of individuals' and insurers' proprietary information, including trade secrets, shall remain confidential.
(g) No compacting state shall have any claim to or ownership of any property held by or vested in the Commission or to any Commission funds held pursuant to the provisions of this Compact.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3014. Compacting states, effective date and amendment.

§ 3014. Compacting states, effective date and amendment.
(a) Any state is eligible to become a compacting state.
(b) The Compact shall become effective and binding upon legislative enactment of the Compact into law by 2 compacting states; provided, the Commission shall become effective for purposes of adopting uniform standards for, reviewing, and giving approval or disapproval of, products filed with the Commission that satisfy applicable uniform standards only after 26 states are compacting states or, alternatively, by states representing greater than 40% of the premium volume for life insurance, annuity, disability income and long-term care insurance products, based on records of the NAIC for the prior year. Thereafter, it shall become effective and binding as to any other compacting state upon enactment of the Compact into law by that state.
(c) Amendments to the Compact may be proposed by the Commission for enactment by the compacting states. No amendment shall become effective and binding upon the Commission and the compacting states unless and until all compacting states enact the amendment into law.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3016. Severability and construction.

§ 3016. Severability and construction.
(a) The provisions of this Compact shall be severable, and if any phrase, clause, sentence, or provision is deemed unenforceable, the remaining provisions of the Compact shall be enforceable.
(b) The provisions of this Compact shall be liberally construed to effectuate its purposes.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 30. Interstate Insurance Product Regulation Compact › § 3017. Binding effect of Compact and other laws.

§ 3017. Binding effect of Compact and other laws.
(a) Other laws. —
(1) Nothing herein prevents the enforcement of any other law of a compacting state, except as provided in paragraph (a)(2) of this section.
(2) For any product approved or certified to the Commission, the rules, uniform standards and any other requirements of the Commission shall constitute the exclusive provisions applicable to the content, approval and certification of such products. For an advertisement that is subject to the Commission's authority, any rule, uniform standard or other requirement of the Commission which governs the content of the advertisement shall constitute the exclusive provision that a commissioner may apply to the content of the advertisement. Notwithstanding the foregoing, no action taken by the Commission shall abrogate or restrict any of the following:
a. The access of any person to state courts.
b. Remedies available under state law related to breach of contract, tort, or other laws not specifically directed to the content of the product.
c. State law relating to the construction of insurance contracts.
d. The authority of the attorney general of the state, including maintaining any actions or proceedings, as authorized by law.
(3) All insurance products filed with individual states shall be subject to the laws of those states.
(b) Binding effect of this Compact. —
(1) All lawful actions of the Commission, including all rules and operating procedures promulgated by the Commission, are binding upon the compacting states.
(2) All agreements between the Commission and the compacting states are binding in accordance with their terms.
(3) Upon the request of a party to a conflict over the meaning or interpretation of Commission actions, and upon a majority vote of the compacting states, the Commission may issue advisory opinions regarding the meaning or interpretation in dispute.
(4) In the event any provision of this Compact exceeds the constitutional limits imposed on the legislature of any compacting state, the obligations, duties, powers, or jurisdiction sought to be conferred by that provision upon the Commission shall be ineffective as to that compacting state, and those obligations, duties, powers, or jurisdiction shall remain in the compacting state and shall be exercised by the agency thereof to which those obligations, duties, powers or jurisdiction are delegated by law in effect at the time this Compact becomes effective.
83 Del. Laws, c. 103, § 1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3101. Group policies must meet group requirements.

§ 3101. Group policies must meet group requirements.
Except as provided in § 3109 of this title, no policy of group life insurance shall be delivered in this State unless it conforms to 1 of the descriptions contained in §§ 3102-3108 of this title.
18 Del. C. 1953, §  3102;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3102. Employee groups.

§ 3102. Employee groups.
A policy may be issued to an employer, or to the trustees of a fund established by an employer, which employer or trustees shall be deemed the policyholder, to insure employees of the employer for the benefit of persons other than the employer, subject to the following requirements:
(1) The employees eligible for insurance under the policy shall be all of the employees of the employer, or all of any class or classes thereof. The policy may provide that the term “employees” shall include the employees of 1 or more subsidiary corporations, and the employees, individual proprietors, and partners of 1 or more affiliated corporations, proprietorships or partnerships if the business of the employer and of such affiliated corporations, proprietorships or partnerships is under common control. The policy may provide that the term “employees” shall include the individual proprietor or partners if the employer is an individual proprietorship or partnership. The policy may provide that the term “employees” shall include retired employees, former employees and directors of a corporate employer. A policy issued to insure the employees of a public body may provide that the term “employees” shall include elected or appointed officials. The policy may provide that the term “employee” does not include farm laborers employed in agriculture.
(2) The premium for the policy shall be paid either from the employer's funds or from funds contributed by the insured employees, or from both. Except as provided in paragraph (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured employees must insure all eligible employees, except those who reject such coverage in writing.
(3) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §  3103;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3103. Debtor groups.

§ 3103. Debtor groups.
A policy may be issued to a creditor or its parent holding company or to a trustee or trustees or agent designated by 2 or more creditors, which creditor, holding company, affiliate, trustee, trustees or agent shall be deemed the policyholder, to insure debtors of the creditors with respect to their indebtedness, subject to the following requirements:
(1) The debtors eligible for insurance under the policy shall be all of the debtors of the creditor or creditors, or all of any class or classes thereof. The policy may provide that the term “debtors” shall include:
a. Borrowers of money or purchasers or lessees of goods, services or property for which payment is arranged through a lease or credit transaction;
b. The debtors of 1 or more subsidiary corporations; and
c. The debtors of 1 or more affiliated corporations, proprietorships or partnerships if the business of the policyholder and of such affiliated corporations, proprietorships or partnerships is under common control.
(2) The premium for the policy shall be paid either from the creditor's funds, or from charges collected from the insured debtors, or from both. Except as provided in paragraph (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by insured debtors specifically for their insurance must insure all eligible debtors.
(3) Any insurer may exclude any debtors as to whom evidence of individual insurability is not satisfactory to the insurer.
(4) The amount of insurance on the life of any debtor shall at no time exceed the greater of the scheduled or actual amount of unpaid indebtedness as to the creditor.
(5) The insurance may be payable to the creditor or any successor to the right, title and interest of the creditor. Such payment shall reduce or extinguish the unpaid indebtedness of the debtor to the extent of such payment.
(6) Notwithstanding paragraphs (1)-(5) of this section, insurance on agricultural credit transaction commitments may be written up to the amount of the loan commitment on a nondecreasing or level term plan. Insurance on educational credit transaction commitments may be written up to the amount of the loan commitment less the amount of any repayments made on the loan.
18 Del. C. 1953, §  3104;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3104. Labor union, employee organization groups.

§ 3104. Labor union, employee organization groups.
A policy may be issued to a labor union, or similar employee organization, which shall be deemed to be the policyholder, to insure members of such union or organization for the benefit of persons other than the union or organization or any of its officials, representatives or agents, subject to the following requirements:
(1) The members eligible for insurance under the policy shall be all of the members of the union or organization, or all of any class or classes thereof.
(2) The premium for the policy shall be paid either from funds of the union or organization, or from funds contributed by the insured members specifically for their insurance, or from both. Except as provided in paragraph (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured members specifically for their insurance must insure all eligible members, except those who reject such coverage in writing.
(3) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §  3105;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3105. Trustee groups.

§ 3105. Trustee groups.
A policy may be issued to a trust, or to the trustee or trustees of a fund, established or adopted by 2 or more employers, or by 1 or more labor unions or similar employee organizations, or by 1 or more employers and 1 or more labor unions or similar employee organizations, which trust or trustee or trustees shall be deemed the policyholder, to insure employees of the employers or members of the unions or organizations for the benefit of persons other than the employers or the unions or organizations, subject to the following requirements:
(1) The persons eligible for insurance shall be all of the employees or all of the members of the unions or organizations, or all of any class or classes thereof. The policy may provide that the term “employees” shall include the employees of 1 or more subsidiary corporations, and the employees, individual proprietor and partners of 1 or more affiliated corporations, proprietorships or partnerships if the business of the employer and of such affiliated corporations, proprietorships or partnerships is under common control. The policy may provide that the term “employees” shall include the individual proprietor or partners if the employer is an individual proprietorship or partnership. The policy may provide that the term “employees” shall include retired employees, former employees and directors of a corporate employer. The policy may provide that the term “employees” shall include the trustees or their employees, or both, if their duties are principally connected with such trusteeship.
(2) The premium for the policy shall be paid from funds contributed by the employer or employers of the insured persons, or by the union or unions or similar employee organizations, or by both, or from funds contributed by the insured persons from both the insured persons and the employer(s) or union(s) or similar employee organization(s). Except as provided in paragraph (3) of this section, a policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, except those who reject such coverage in writing.
(3) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §  3106;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3106. Association groups.

§ 3106. Association groups.
A policy may be issued to an association or to a trust or to the trustee or trustees of a fund established, created or maintained for the benefit of members of 1 or more associations. The association or associations shall have at the outset a minimum of 100 persons and have been organized and maintained in good faith for purposes other than that of obtaining insurance; shall have been in active existence for at least 2 years; and shall have a constitution and bylaws and a statement of organization or substantially similar document which provides that:
(i) The association or associations hold regular meetings not less than annually to further purposes of the members; (ii) except for credit unions, the association or associations collect dues or solicit contributions from members; and (iii) the members have voting privileges and representation on the governing board of committees. The policy shall be subject to the following requirements:
(1) The policy may insure members of such association or associations, employees thereof or employees of members, or 1 or more of the preceding or all of any class or classes thereof for the benefit of persons other than the employees' employer.
(2) The premium for the policy shall be paid from funds contributed by the association or associations, or by employer members, or by both, or from funds contributed by the covered persons or from both the covered persons and the association, associations or employer members.
(3) Except as provided in paragraph (4) of this section, a policy on which no part of the premium is to be derived from funds contributed by the covered persons specifically for their insurance must insure all eligible persons, except those who reject such coverage in writing.
(4) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §§  3107, 3110;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 347, §§  1, 2;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3107. Credit union groups.

§ 3107. Credit union groups.
A policy may be issued to a credit union or to a trustee or trustees or agent designated by 2 or more credit unions, which credit union, trustee, trustees or agent shall be deemed the policyholder, to insure members of such credit unions for the benefit of persons other than the credit union or credit unions, trustee or trustees, or agent or any of their officials, subject to the following requirements:
(1) The members eligible for insurance shall be all of the members of the credit union or credit unions, or all of any class or classes thereof.
(2) The premium for the policy shall be paid by the policyholder from the credit union's funds and, except as provided in paragraph (3) of this section, must insure all eligible members.
(3) An insurer may exclude or limit the coverage on any member as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §  3109;  56 Del. Laws, c. 380, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3109. Requirements for other groups; out-of-state groups.

§ 3109. Requirements for other groups; out-of-state groups.
(a) Group life insurance offered to a resident of this State under a group life insurance policy issued to a group other than those described in §§ 3102-3108 of this title shall be subject, where applicable, to the requirements of subsections (b)-(e) of this section.
(b) No such group life insurance policy shall be delivered in this State unless the Commissioner finds that:
(1) The issuance of such group policy is not contrary to the best interest of the public;
(2) The issuance of the group policy would result in economies of acquisition or administration; and
(3) The benefits are reasonable in relation to the premiums charged.
(c) No such group life insurance coverage may be offered in this State by an insurer under a policy issued in another state unless this State or another state having requirements substantially similar to those contained in paragraphs (b)(1), (2) and (3) of this section has made a determination that such requirements have been met.
(d) The premium for the policy shall be paid either from the policyholders' funds or from funds contributed by the coverage persons or from both.
(e) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
18 Del. C. 1953, §  3111;  56 Del. Laws, c. 380, §  1;  58 Del. Laws, c. 417, §  2;  65 Del. Laws, c. 480, §  1;  79 Del. Laws, c. 102, §  2;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3110. Disclosure requirements for other groups.

§ 3110. Disclosure requirements for other groups.
(a) With respect to a program of insurance which if issued on a group basis would not qualify under §§ 3102-3108 of this title, if compensation of any kind will or may be paid to:
(1) A policyholder or sponsoring or endorsing entity in the case of a group policy; or (2) a sponsoring or endorsing entity in the case of individual blanket or franchise policies marketed by means of direct response solicitation; then in such cases the insurer shall cause to be distributed to prospective insureds a written notice that compensation will or may be paid.
(b) The written notice required by subsection (a) of this section shall be distributed:
(1) Whether compensation is direct or indirect; and
(2) Whether such compensation is paid to or retained by the policyholder or sponsoring or endorsing entity, or paid to or retained by a third party at the direction of the policyholder or sponsoring or endorsing entity, or any entity affiliated therewith by way of ownership, contract or employment.
(c) The notice required by subsection (a) of this section shall be placed on or accompany any application or enrollment form provided prospective insureds.
(d) As used in this section, the following terms shall have the meanings indicated:
(1) “Direct response solicitation” means a solicitation through a sponsoring or endorsing entity through the mails, telephone or other mass communications media;
(2) “Sponsoring or endorsing entity” means an organization which has arranged for the offering of a program of insurance in a manner which communicates that eligibility for participation in the program is dependent upon affiliation with such organization or that it encourages participation in the program.
65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3111. Dependents' coverage.

§ 3111. Dependents' coverage.
Except for a policy issued under § 3103 of this title, a group life insurance policy may be extended to insure the employees or members with respect to their family members or dependents, or any class or classes thereof, subject to the following:
(1) The premium for the insurance shall be paid either from funds contributed by the employer, union, association or other person to whom the policy has been issued, or from funds contributed by the covered person, or from both. Except as provided in paragraph (2) of this section, a policy on which no part of the premium for the family members or dependents' coverage is to be derived from funds contributed by the covered persons must insure all eligible employees or members with respect to their family members or dependents, or any class or classes thereof.
(2) An insurer may exclude or limit the coverage on any family member or dependent as to whom evidence of individual insurability is not satisfactory to the insurer.
(3) The amounts of insurance for any covered spouse or dependent child under policies issued on a group basis may, if requested by the policyholder, be limited to a percentage of the amount of insurance for which the employee or member is insured.
18 Del. C. 1953, §  3108;  56 Del. Laws, c. 380, §  1;  63 Del. Laws, c. 99, §  1;  65 Del. Laws, c. 480, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 31. GROUP LIFE INSURANCE › § 3112. Group life insurance standard provisions.

§ 3112. Group life insurance standard provisions.
No policy of group life insurance shall be delivered in this State unless it contains in substance the provisions set forth in §§ 3113-3127 of this title or provisions which in the opinion of the Commissioner are more favorable to persons insured, or at least as favorable to the persons insured and more favorable to the policyholder; provided, however:
(1) That §§ 3117, 3119-3123, 3125 and 3127 of this title shall not apply to policies insuring persons under § 3103 of this title;
(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 in the opinion of the Commissioner 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.
18 Del. C. 1953, §  3111;  56 Del. Laws, c. 380, §  1;  58 Del. Laws, c. 417, §  2;  65 Del. Laws, c. 480, §  1;