North Carolina General Statutes 58-51-70. Industrial sick benefit insurance; provisions
Policies issued under the industrial sick benefit plan shall contain the substance of provisions contained in N.C. Gen. Stat. § 58-51-15 and in addition shall contain the following:
(1) A provision for grace for the payment of the additional premium or assessment or proportion thereof for such death benefits of not less than four weeks during which period the death benefit shall continue in force;
Terms Used In North Carolina General Statutes 58-51-70
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
(2) A provision for incontestability of the death benefit coverage after not more than two years except for
a. Nonpayment of premiums, and
b. Misstatement of age;
(3) A provision that the death benefit is noncancellable by the company except for nonpayment of premium.
The Commissioner may approve any form of certificate to be issued under the industrial sick benefit plan which omits or modifies any of the provisions hereinbefore required, if he deems such omission or modification suitable for the character of such insurance and not unjust to the persons insured thereunder. (1945, c. 385; 1953, c. 1095, s. 4; 1979, c. 755, s. 14.)