Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
On converting Florida group life coverage, which class of risk determines the individual policy's premium?
Answer and explanation
Answer: D. Section 627.566 sets the premium at the insurer's then customary rate applicable to the form and amount, to the class of risk to which such person then belongs, and to the person's age attained on the effective date. Entry-age classing, a uniform standard class, and a group-wide class are not what the section provides.Source: Fla. Stat. § 627.566 — 627.566, Class of risk on conversion
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