March 1, 1929
SUBJECT: INSURANCE
WITHDRAWN
The following is an excerpt from a Circular Letter issued by Superintendent of Insurance Albert Conway. It is currently in effect.
March 1, 1929
Dear Sirs:
Re: Proportion of Premiums to be Paid by Employees under Group Life Insurance Policies
This is to advise that hereafter group life policy forms will be approved which provide for the payment of at least twenty-five per cent (25%) of the premiums by the employer, or which provide for the following maximum payments by employees:
|
Rate at Which |
Maximum Contribution from |
|
|
Policy is Written |
Employees Per Thousand |
|
|
Monthly |
Weekly |
|
|
Standard |
60 cents |
14 cents |
|
Standard plus $ 1.00 |
70 cents |
16 cents |
|
Standard plus $ 2.00 |
75 cents |
17 cents |
|
Standard plus $ 3.00 or more |
80 cents |
18 cents |
The above ruling supersedes the ruling contained in Section 6 of this Department's letters of June 11th and 12th, 1926, to the group writing companies.