(1) If the insurer terminates the contract of insurance, the insurance is converted into fully paid-up insurance on termination. Section 165 applies to the conversion.
(2) In the case of section 38 (2), the insurer is liable to that extent to which he or she would have been liable if the insurance had been converted into fully paid-up insurance on occurrence of the insured event.
(3) When setting a deadline for payment in accordance with section 38 (1), the insurer must indicate that the insurance is being converted.
(4) In the case of a life insurance policy concluded by the employer for the benefit of his or her employees, the insurer informs the insured person in writing of the setting of the payment deadline in accordance with section 38 (1), and of the fact that the insurance is being converted, and grants them a payment period of no less than two months.