Group life

Group life insurance policies are generally written as

annually renewable term

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

certificate

Company XYZ offers a group Term Life insurance plan to its employees. What does each employee covered under this plan receive?

certificate of insurance

Under a trustee group life policy, who would be eligible for a certificate of coverage?

employee

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

Which of the following statements about noncontributory employee group life insurance is false

A minimum number of employees is required to participate

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

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

A noncontributory group term Life plan is characterized by

the entire cost of the plan is paid for by the employer