This part shall apply to all policies delivered or issued for delivery in this state on or after the effective date hereof, except it shall not apply to:

1. (1) Individual policies or contracts issued pursuant to a conversion privilege under a policy or contract of group or individual insurance when such group or individual policy or contract includes provisions that are inconsistent with the requirements of this part;
2. (2) Policies being issued to employees or members as additions to franchise plans in existence on the effective date of this part;
3. (3) Individual credit accident and health policies; or
4. (4) Medicare supplement policies.