XpertHR Employment Law Guide 808

Summary

• Author(s): Gloria Ju

  This section should be reviewed in conjunction with our in-depth federal coverage of this topic.

  Group Life Insurance

  In Colorado, employers are not required to provide employees with life insurance benefits. If an employer chooses to provide life insurance as a benefit, certain requirements apply.

  The term employer includes counties, cities, cities and counties, incorporated towns, school districts and other political subdivisions of this state. C.R.S. 10-7-203.

  Dependent Coverage

  A group life insurance policy may be extended to cover dependents. C.R.S. 10-7-201(2).

  Grace Period

  Group life insurance policies must include a 31-day grace period for premium payments, except the first, during which the death benefit coverage will continue in force unless the policy-holder gives written, advance notice of discontinuance under the terms of the policy. C.R.S. 10-7-202(1)(a).

  Incontestability

  Once an insured individual has maintained a life insurance policy for two years, an ...