1. Under the Oklahoma Standard Nonforfeiture Law, a cash surrender value is NOT required for term policies of:

Twenty years or less

36 O.S. 4029(D)(1) provides that no cash surrender value is required in policies of term insurance of twenty years or less.

2. An Oklahoma group life policy must give the policyholder a grace period for premiums after the first of:

31 days

36 O.S. 4103(B) requires a 31-day grace period during which death benefit coverage continues, unless the policyholder gave advance written notice of discontinuance.

3. An employee leaves a job covered by an Oklahoma group life policy. To convert to an individual policy without evidence of insurability, the employee must apply and pay the first premium within:

31 days after termination

36 O.S. 4103(I) entitles the person to an individual policy (other than term) without evidence of insurability if application and first premium are made within thirty-one days.

4. When an Oklahoma group life policy itself terminates, a covered person has a conversion right only if insured under it for at least:

Five years

36 O.S. 4103(J) gives a conversion right on termination of the group policy to persons insured for at least five years before the termination date.