(1) The lives of a group of individuals may be insured under a policy:

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Terms Used In Utah Code 31A-22-501.1

  • Insured: means a person to whom or for whose benefit an insurer makes a promise in an insurance policy and includes:
              (103)(a)(i) a policyholder;
              (103)(a)(ii) a subscriber;
              (103)(a)(iii) a member; and
              (103)(a)(iv) a beneficiary. See Utah Code 31A-1-301
  • Policy: includes a service contract issued by:
              (150)(b)(i) a motor club under Chapter 11, Motor Clubs;
              (150)(b)(ii) a service contract provided under Chapter 6a, Service Contracts; and
              (150)(b)(iii) a corporation licensed under:
                   (150)(b)(iii)(A) Chapter 7, Nonprofit Health Service Insurance Corporations; or
                   (150)(b)(iii)(B) Chapter 8, Health Maintenance Organizations and Limited Health Plans. See Utah Code 31A-1-301
  • Policyholder: means a person who controls a policy, binder, or oral contract by ownership, premium payment, or otherwise. See Utah Code 31A-1-301
     (1)(a) issued as a policyholder, to:

          (1)(a)(i) an employer; or
          (1)(a)(ii) an employer sponsored trust for the benefit of the employer’s employees;
     (1)(b) having an insurable interest as stated in Subsection 31A-21-104(3)(d); and
     (1)(c) subject to the requirement of Subsection 31A-21-104(3)(d)(v).
(2) A policy issued under this section is not subject to:

     (2)(a) Section 31A-21-311; and
     (2)(b) Sections 31A-22-516 through 31A-22-522.