Chapter 6 Group Life Insurance Exam

A person who is insured within a group contract will be given a

certificate

What type of group insurance plan involves employees sharing the cost?

contributory plan

Which provision is NOT a requirement in a group life policy? 1.Conversion 2.Grace period 3.Incontestable period 4.Accidental

Accidental

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

Conversion

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

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

Which requirement must be met for an association to be eligible for a group life plan?

Group was formed for a purpose other than acquiring insurance

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