Group life

All individuals covered under a group contract will receive a(n)

certificate

When an employee is terminated, which statement about a group term life conversion is true?

Policy proceeds will be paid if the employee dies during the conversion period

If it's employees share in the cost of insurance, what type of group life insurance plan would a corporation have?

Contributory

An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a

$25,000 individual whole life policy

Which of the following is an important underwriting principle of group life insurance?

Everyone must be covered in the group

S, while in the process of converting her group life insurance to an individual policy, dies. What happens to the claim her beneficiary submits?

Full benefits are payable under the Master contract

Group life insurance policies are generally written as

annually renewable term

What group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability?

conversion

If a corporation pays the premium on a group life policy for its employees, the corporation is required to report how much additional taxable income for each employee?

nothing