Group Life Insurance Characteristics and Provisions Quiz
Explore key aspects of group life insurance policies, including coverage, provisions, and ownership. Test your knowledge with our quiz!
#1
What is the primary purpose of group life insurance?
To provide coverage for individuals
To provide coverage for a group of people
To provide investment opportunities
To provide retirement benefits
#2
Which of the following is a common characteristic of group life insurance?
Premiums based on individual health status
Coverage for only one person
Coverage typically terminates upon leaving the group
Coverage that remains unchanged regardless of employment status
#3
Which of the following statements about group life insurance premiums is true?
Premiums are typically higher than individual policies
Premiums are based on individual health assessments
Premiums are usually paid by the insured individuals
Premiums are typically lower due to group purchasing power
#4
In a group life insurance policy, who usually owns the policy?
The individual insured
The insurance company
The employer or organization
The beneficiary
#5
Which provision in group life insurance allows an employee to convert their group coverage to an individual policy upon termination of employment?
Portability provision
Conversion provision
Accidental death provision
Renewability provision
#6
Which of the following is NOT typically covered under a group life insurance policy?
Natural death
Accidental death
Disability benefits
Terminal illness benefits
#7
What is the purpose of the master policy in group life insurance?
To provide coverage for a single individual
To outline the terms and conditions of coverage for the group
To facilitate premium payments
To determine the beneficiary
#8
Which provision in group life insurance allows for coverage of dependents of the insured individual?
Dependent coverage provision
Spousal coverage provision
Family extension provision
Additional coverage provision
#9
What provision in group life insurance allows for coverage continuation for a limited period after leaving the group?
Conversion provision
Portability provision
Survivorship provision
Extended coverage provision
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