ND Life and Health Chapter 7: Group Life Exam Questions

Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.

Certificate.

An employee under a group insurance policy has the right to name a beneficiary and the right to:

Convert to an individual policy in the event of employment termination.

A non-contributory health insurance plan helps the insurer avoid:

Adverse Selection.

What does the Group Life underwriting risk selection process help protect insurance companies from?

Adverse Selection.

A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called an:

Association or labor group.

Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. Which of these describes the change that will take place? A) Coordination of benefits B) Conversion C) Extension of benefits D) Rollover

B) Conversion.

Which of these factors would an insurer consider when determining whether to accept a group life plan? A) Number of dependents B) Incontestable Period C) Average Age D) Grace Period

C) Average Age.

All of the following are characteristics of a Group Life Insurance Plan EXCEPT: A) Group underwriting B) Master contract C) Individual underwriting D) Probationary period

C) Individual underwriting.