Chapter 6
Which provision is NOT a requirement in a group life policy?
Accidental
If its employees share in the cost of insurance, what type of group life insurance plan would a corporation have?
Contributory
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Employee
Which of the following is an important underwriting principle of group life insurance?
Everyone must be covered in the group
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
Group life insurance policies are generally written as
annually renewable term
A person who is insured within a group contract will be given a
certificate
An employee of 20 years recently retired at age 59 1/2. This employee's group life contract can be
converted to an individual permanent policy at an individual rate
A noncontributory group term life plan is characterized by
the entire cost of the plan is paid for by the employer