Group life insurance

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. What term describes the change that will take place?

Conversion

An employee under a Group insurance policy has the right to name a beneficiary in the right to___________________

Convert to an individual policy in the event of employment termination

Adverse Selection

Group life underwriting risk selection process helps protect companies from?

Conversion privilege under a group life plan allows an employee to convert to an

Individual plan upon employment termination

Converting a group plan to permanent life insurance requires

The conversion being applied for Within 31 days of termination

Certificate of coverage and benefits

The coverage, conditions, and limitations in the master policy of a group contract can be found in which document?

A noncontributory health insurance plan helps to ensure avoid

Adverse selection

Individual underwriting

All of the following are characteristics of a Group Life Insurance Plan EXCEPT?

Factor that an insurer would consider when determining whether to accept a group life plan

Average age

Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.

Certificate