Retirement and Other Insurance Concepts
A departing employee exercises a group life conversion privilege. What does the employee receive?
Answer and explanation
Answer: D. Conversion produces an individual policy, ordinarily on a form the insurer then customarily issues for the age and amount, with premium payable at the individual rate. It is not a continuation certificate, is not paid up, and the availability of a term form is commonly restricted.Source: Pearson VUE — Georgia Insurance Examination Content Outlines #121102 — Outline page S2, What conversion produces
More retirement and other insurance concepts questions
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