Alabama life insurance ch.7
Certificate
A person who is insured within a group contract will be given a:
converted to an individual permanent policy at an individual rate
An employee of 20 years recently retired at age 59 1/2. This employee's group life contract can be:
Full benefits must be paid by the insurer
Ann is an employee covered by a group life plan through her employee. When Ann is terminated, her employer fails to tell her about the plan's conversion option. Two weeks later, Ann dies in an automobile accident. How will this situation be handled?
Contributory Plan
What type of group insurance plan involves employees sharing the cost?
B) everyone must be covered in the group
Which of the following is an important underwriting principle of group life insurance? A) physical exams are required B) everyone must be covered in the group C) employer must pay for the entire premium D) the group must be formed for the purpose of getting affordable insurance
Full benefits are payable under the Master Contract
S, while in the process of converting her group life insurance to an individual policy, dies. What happens to the claim her beneficiary submits?
A) whole life insurance is the form of insurance typically used in group life insurance
All of these are correct concerning group life insurance EXCEPT: A) whole life insurance is the form of insurance typically used in group life insurance B) term life insurance is the form of insurance typically used in group life insurance C) group life insurance can cover a spouse and dependents D) group life insurance can be converted into individual coverage upon employment termination
A certificate used to each individual covered by the group life insurance
What is a certificate of insurance?
100%
What percentage of eligible employees must be covered by non contributory group insurance plans?
Annually Renewable Term
Group life insurance policies are usually written as:
