Exam (elaborations)
Xcel Solutions 7 Group Life Questions and Answers 2024
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Xcel Solutions 7 Group Life
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Xcel Solutions 7 Group LifeAn 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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