Insurance.

Existing law provides that for purposes of specified group life insurance policies, the term "employee" may include, among others, the officers, managers, and employees of subsidiary or affiliated corporations, and the individual proprietors, partners, and employees of affiliated individuals and firms, as specified. Existing law requires a group life insurance policy to contain a certificate setting forth, among other things, specific information regarding the ability of the employee to retain insurance upon termination, to obtain additional insurance, and to receive benefits upon death. This bill would also include within the definition of employees for those purposes classes of former employees, including retired employees, and would require these employees to also receive a certificate with those provisions.