{"data":{"id":"us-mo/mo.-rev.-stat.-376.693","jurisdiction":"us-mo","citation":"Mo. Rev. Stat. § 376.693","heading":"Special group life policies, requirements — director's approval.","body":"Group life insurance offered to a resident of this state under a group life insurance policy issued to a group other than one described in section 376.691 shall be subject to the following requirements:\n(1) No such group life insurance policy shall be delivered in this state unless the director of the department of commerce and insurance finds that:\n(a) The issuance of such group policy is not contrary to the best interest of the public;\n(b) The issuance of the group policy would be actuarially sound;\n(c) The issuance of the group policy would result in economies of acquisition or administration; and\n(d) The benefits are reasonable in relation to the premiums charged;\n(2) No such group life insurance coverage may be offered in this state by an insurer under a policy issued in another state unless this state, or another state having requirements substantially similar to those contained in subdivision (1) of this section, has made a determination that such requirements have been met;\n(3) The premium for the policy shall be paid either from the policyholder's funds or from funds contributed by the covered persons, or from both;\n(4) An insurer may exclude or limit coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.","path":["Title XXIV - BUSINESS AND FINANCIAL INSTITUTIONS","Chapter 376 - Life, Health and Accident Insurance"],"source_url":"https://revisor.mo.gov/main/OneSection.aspx?section=376.693","current_through":"2026 legislative session (floor)","vintage":"","retrieved_at":"2026-09-03T22:23:27Z","sha256":"41fe68814b22895fb1706e5ce7cd80af0e7202c107ccd8d7fb5b1ac879fa4d99","source_id":"us-mo","stale":false,"prev":"us-mo/mo.-rev.-stat.-376.691","next":"us-mo/mo.-rev.-stat.-376.694"},"notice":"GroundRules: Original legal text. Not legal advice."}