58-18-7.13. Premium for conversion policy and continuation policy.

The premium for the conversion policy shall be determined in accordance with the insurer's table of premium rates applicable to the age and class of risk for each person to be covered under that policy and to the type and amount of insurance provided. The premium for a continuation policy may not be greater than one hundred two percent of the group rate under which a person is covered. For any month after the eighteenth month, the premium amount may not exceed one hundred fifty percent of the applicable premium.

Source: SL 1984, ch 326, § 9; SL 1987, ch 378, § 1; SL 1988, ch 400, § 3; SL 1989, ch 433, § 11; SL 2001, ch 280, § 14.