Chapter 6
What does the Group Life underwriting risk selection process help protect insurance companies from?
Adverse Selection
The coverage, conditions, and limitations in the master policy of a group contract can be found in which document? Certificate of Authority Consumer report Coverage document Certificate of coverage and benefits
Certificate of coverage and benefits
Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured. policy certificate application rider
certificate
An employee under a group insurance policy has the right to name a beneficiary and the right to remain on the group plan in the event of employment termination cash surrender the existing policy change the policy provisions convert to an individual policy in the event of employment termination
convert to an individual policy in the event of employment termination
All of the following are characteristics of a Group Life Insurance Plan Except
individual underwriting
Converting a group plan to permanent life requires
the conversion being applied for within 31 days of termination
Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. Which of these describes the change that will take place?
Conversion
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called an
association or labor group
A non-contributory health insurance plan helps the insurer avoid
adverse selection