(1) A group insurance policy offering life insurance coverage or a blanket insurance policy offering life insurance coverage shall include a provision that obligates the policyholder to notify each employee or group member:
(a) in writing;
(b) 30 days before the day on which the coverage terminates; and
(c)
(i) that the group insurance policy offering life insurance coverage or blanket insurance policy offering life insurance coverage is being terminated; and
(ii) the rights the employee or group member has to convert coverage upon termination.
(2) For a group insurance policy offering life insurance coverage or a blanket insurance policy offering life insurance coverage described in Subsection (1), an insurer shall:
(a) include a statement of a policyholder's obligations under Subsection (1) in the insurer's monthly notice to the policyholder of premium payments due; and
(b) provide a sample notice to the policyholder at least once a year.