WVC 33 - 13 - 42
§33-13-42. Same -- Conversion of weekly policies.
There shall be a provision in the case of weekly premium
industrial life insurance policies granting to the insured, upon
proper written request and upon presentation of evidence of
insurability satisfactory to the insurer, the privilege of
converting a weekly premium industrial insurance policy to any
form of life insurance with less frequent premium payments
regularly issued by the insurer, in accordance with terms and
conditions agreed upon with the insurer. The privilege of making
such conversion need be granted only if the insurer's weekly
premium industrial policies on the life insured, in force as
premium paying insurance and on which conversion is requested,
grant benefits in event of death, exclusive of additional
accidental death benefits and exclusive of any dividend
additions, in an amount not less than the minimum amount of such
insurance with less frequent premium payments issued by the
insurer at the age of the insured on the plan of industrial or
ordinary insurance desired.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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