“Employee Life Insurance” Defined

TITLE 41 INSURANCE CHAPTER 20 GROUP LIFE INSURANCE 41-2024. "Employee life insurance" defined. (1) "Employee life insurance" is that plan of life insurance, other than salary savings life insurance or pension trust insurance and annuities, under which individual policies are issued to the employees of any employer and the employer, or to the members of a professional association or its employees and where such policies are issued on the lives of not less than four (4) persons at date of issue. Premiums for such policies shall be paid either wholly from the employer’s or member’s funds, or funds contributed by him, or partly from such funds and partly from funds contributed by the insured employees. (2)  Any group which is eligible for "group disability insurance" under section 41-2202 , Idaho Code, will be eligible for employee life insurance under section 41-2024 , Idaho Code.