which of the following statements is true about group life insurance? course hero

Is evidence of insurability required for enrollment in a group life insurance?

Which of the following statements about group term life insurance is true A It from XMBA 310 at University of California, Berkeley. Study Resources. Main Menu; ... Which of the following statements about group term. School University of California, Berkeley; Course Title XMBA 310; Uploaded By Quincy0670. Pages 3 Ratings 100% (2) ...

Is employer-sponsored group life insurance usually annual renewable term?

All of the following statements about Group Insurance are true, except: a. Each covered employee receives a policy. b. A covered employee who terminates his employment continues to be covered for 31 days after termination date. c. In a non-contributory plan, 100% of the group members must be included. d. Most group policies pay dividends to employer.

How long is the grace period for group life insurance policies?

All of the following statements about group insurance. 104. All of the following statements about Group Insurance are true, except: a. Each covered employee receives a policy. b. A covered employee who terminates his employment continues to be covered for 31 days after termination date. c. In a non-contributory plan, 100% of the group members ...

What proof of insurability must be provided to enrollees?

45) Which of the following statements about industrial life insurance (also called home service life insurance) policies is true? A) Most policies have a face value exceeding $100,000. B) Most industrial life insurance policies are cash value coverage. C) Industrial life insurance is group term insurance coverage marketed to employers.

What is group life insurance?

1. most group life insurance is whole life coverage. 2. most group life insurance plans allows a modest amount of life insurance on the employee's spouse and dependent children. a. 1 only. b. 2 only.

What is coordination of benefits?

c. predetermination of benefits. Most group health insurance plans have adopted the coordination- of-benefits rules developed by the National Association of Insurance Commissioners. Under these rules, if a dependent child is covered by both the health insurance plans of the child's married parents, which health plan is primary for ...

Do you have to have a medical exam to get group life insurance?

In most states, all group life insurance policies must adhere to the following legal requirements, EXCEPT: A medical exam is not required by individuals applying for group life insurance coverage. The correct answer is: Individuals applying for coverage have to undergo a medical examination.

How long is the grace period for group life insurance?

Group life insurance policies have a standard grace period of 31 days. The correct answer is: 5-day grace period. In most states, all group life insurance policies must adhere to the following legal requirements, EXCEPT: A medical exam is not required by individuals applying for group life insurance coverage.

What is wholesale insurance?

Wholesale insurance covers: Franchise or wholesale insurance is group insurance that covers members in a common group. Unlike most group insurance, there is not a master policyholder for franchise insurance. Instead, a group entity sponsors a plan where members pay premiums to the insurance company.

What is franchise insurance?

Franchise or wholesale insurance is group insurance that covers members in a common group. Unlike most group insurance, there is not a master policyholder for franchise insurance. Instead, a group entity sponsors a plan where members pay premiums to the insurance company.