Florida Statute 627.567 - Full Text and Legal Analysis

627.567 Conversion on termination of policy.—A group life insurance policy shall provide that, if the group policy terminates or is amended so as to terminate the insurance of any class of insured persons, every person insured thereunder at the date of such termination whose insurance terminates, including the insured dependent of a covered person, and who has been so insured for at least 5 years prior to such termination date is entitled to have issued to her or him by the insurer an individual policy of life insurance, subject to the same conditions and limitations as are provided by s. 627.566, except that the group policy may provide that the amount of such individual policy shall not exceed the smaller of:

(1) The amount of the person’s life insurance protection ceasing because of the termination or amendment of the group policy, less the amount of any life insurance for which she or he is or becomes eligible under any group policy issued or reinstated by the same or another insurer within 31 days after such termination; or

(2) Ten thousand dollars.

History.—s. 540, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 438, 448, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318; s. 337, ch. 97-102.

Cases Citing F.S. 627.567

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Soule v. Sec. Connecticut Life Ins. Co., 654 So. 2d 1021 (Fla. Dist. Ct. App. 1995).
Published | District Court of Appeal of Florida | 1995 Fla. App. LEXIS 5237, 1995 WL 293684
...2 The trial court disagreed, ruling that the effect of the letter of March 8 was to discontinue the policy as of March 31, 1991, thereby limiting decedent’s conversion rights to those provided by the second paragraph of the section 26 conversion privilege. The court further found that section 627.567(2), Florida Statutes (1985), effectively amended the policy to establish at $10,000 the minimum individual policy to which decedent was entitled to convert and entered judgment for that amount plus interest....

This Florida statute resource is curated by the lawyer who curates this resource, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). Attorney Syfert regularly works with Chapter 627 in the context of insurance coverage law and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.

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Cases Citing F.S. 627.567

Soule v. Sec. Connecticut Life Ins. Co., 654 So. 2d 1021 (Fla. Dist. Ct. App. 1995).