In AS 21.09.210(m), "individual life insurance" means a life insurance policy on the life of one individual or the lives of more than one individual for estate planning purposes that

1. (1) may not be a key person insurance policy or part of a group life insurance policy;
2. (2) may not include the insured's employer as a beneficiary.

(Eff. 6/5/2019, Register 230)

Authority: AS 21.06.090, AS 21.09.210