GYE 1 Life Law
every insurer must maintain a complete file containing one copy of each document authorized for use for a period of how many years following the date of its last authorized use
3 years
if an employee's job is terminated, an individual life insurance policy can be obtained if the applications is made within
31 days
Replacement does not apply to existing life insurance that is nonconvertible term life insurance and will expire within
5 years
in order to be entitled to an individual policy upon termination of the group policy, a person must have a life insurance policy for at least 3 years with a company whose life insurance policy has been in effect for at least -
5 years
which of the following is FALSE regarding insurance sales presentations to prospective purchasers
There are no disclosure requirements for insurers acting without producers
according to the life insurance replacement regulations, which of the following would be an example of policy replacement
a policy is reissued with a reduction in cash value
Most group life insurance policies must be secured for the benefit of person other than the policyholder, except
debtor group
an insurer becomes bankrupt, and is no longer able to pay an insured losses. what organization will make sure that insureds receive compensation for covered losses
guaranty association
a legitimate, relatively new construction labor union of 22 members applied for a life insurance policy and was rejected. what is the most likely reason
number of members
An employee has worked at a corporation for 3 years, and group life has been in place for 4 years. the policy is terminated. which of the following is true
the person is not entitled to any automatic benefits under this insurer