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Xcel Solutions 7 Group Life Questions and Answers 2024 $13.99   Add to cart

Exam (elaborations)

Xcel Solutions 7 Group Life Questions and Answers 2024

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Xcel Solutions 7 Group Life

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  • November 5, 2024
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Xcel Solutions 7 Group Life

An employer has a group life coverage for his employees. How would an employee in
poor health be treated in this situation? - answer Eligible for the same type of coverage
as the other employees

Which statement about group life insurance is INCORRECT? - answer Each participant
requires evidence of insurability

Which statement regarding the certificate of insurance is accurate? - answer It indicates
evidence of an employee's insurance coverage

Any employee insured under a group life insurance plan is normally - answer covered
with term life insurance

What is an insurance contract that identifies individuals by relationship to a specific
organization? - answer group insurance

What are premiums for group credit life insurance based on? - answer Flat rate
unrelated to the borrower's age

Which type of policy can group term life insurance normally be converted into? -
answerAn individual permanent life insurance policy

The conversion option for group term insurance may be exercised by an employee -
answerwithin 31 days of terminated employment

Group life insurance is typically issued as - answerlevel term insurance

Why do insurers require a minimum number of employees participate in a group
insurance plan? - answerMinimize adverse selection

The policy provision that permits an employee to change from group life coverage to an
individual life policy is called the - answerConversion provision

What minimum percentage of all eligible employees must participate in a group life
insurance plan if the premiums are completely paid for by the employer?

0%
50%
75%
100% - answer100%

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