1196                            LAWS OF MARYLAND                       [CH. 553

death of the person insured, and subject to any right reserved by
the insurer in the policy and set forth in the certificate to pay at its
option a part of such sum not exceeding five hundred dollars ($500)
to any person appearing to the insurer to be equitably entitled there-
to by reason of having incurred funeral or other expenses incident
to the last illness or death of the person insured.

433.    Certificate.

The group life insurance policy shall contain a provision that the
insurer will issue to the policyholder for delivery to each person
insured an individual certificate setting forth a statement as to the
insurance protection to which he is entitled, to whom the insurance
benefits are payable, and the rights and conditions set forth in
sections 434, 435 and 436.

434.    Conversion on Termination of Eligibility.

The group life insurance policy shall contain a provision that if
the insurance, or any portion of it, on a person covered under the
policy ceases because of termination of employment or of member-
ship in the class or classes eligible for coverage under the policy,
such person shall be entitled to have issued to him by the insurer,
without evidence of insurability, an individual policy of life insur-
ance without disability or other supplementary benefits, provided
application for the individual policy shall be made, and the first
premium paid to the insurer, within thirty-one (31) days after such
termination, and provided further that:

(1)   The individual policy shall, at the option of such person, be
on any one of the forms, except term insurance, then customarily
issued by the insurer at the age and for the amount applied for;

(2)   The individual policy shall be in an amount not in excess of
the amount of life insurance which ceases because of such termina-
tion, less the amount of any life insurance for which such person is
or becomes eligible under the same or any other group policy within
thirty-one (31) days after such termination, provided that any
amount of insurance which shall have matured on or before the date
of such termination as an endowment payable to the person insured,
whether in one sum or in installments or in the form of an annuity,
shall not, for the purposes of this provision, be included in the
amount which is considered to cease because of such termination;
and

(3)   The premium on the individual policy shall be at the insurer's
then customary rate applicable to the form and amount of the indi-
vidual policy, to the class of risk to which such person then belongs,
and to his age attained on the effective date of the individual policy.

435.    Conversion on Termination of Policy.

The group life insurance policy shall contain a provision that if
the group policy terminates or is amended so as to terminate the
insurance of any class of insured persons, every person insured
thereunder at the date of such termination whose insurance termi-
nates and who has been so insured for at least five (5) years prior
to such termination date shall be entitled to have issued to him by
the insurer an individual policy of life insurance, subject to the