Which provision is NOT a requirement in a group life policy?
Accidental
A person who is insured within a group contract will be given a
certificate
A noncontributory group term life plan is characterized by
the entire cost of the plan is paid for by the employer
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
An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a
$25,000 individual whole life policy
What group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability?
Conversion
What type of group plan involves employees sharing the cost?
contributory plan
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
If its employees share in the cost of insurance, what type of group life insurance plan would a corporation have?
Contributory
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
Which of the following is an important underwriting principle of group life insurance?
Everyone must be covered in the group
Group life insurance policies are generally written as
annually renewable term
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Employee