Which of the following statements about group term life insurance is true?
A) It usually is written in the form of 5-year level term insurance.
B) An employee who leaves the group is usually not permitted to convert to individual coverage.
C) Experience rating is used in group term life insurance plans.
D) It represents only a small percentage of the group life insurance in force.
Answer: C
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What is "maximizing profits" as a social responsibility theory in business?
A) the theory that a corporation must consider the effects its actions have on persons other than its shareholders B) the theory that a corporation's duty is to make a profit while avoiding causing harm to others C) the theory that a corporation owes a duty to take actions that increase profits for shareholders D) the theory that a business has a responsibility solely to its stakeholders
Lost profits can never be recovered as damages since they are speculative and cannot be established with reasonable certainty
Indicate whether the statement is true or false
Insurance regulators:
A) make the insurance market more efficient B) have been forced to intervene in the market periodically C) assist consumers in choosing the right insurance company D) mainly deal with low-risk insurance applicants