Life Insurance Policies
What does an actively at work requirement do in a group life plan?
Answer and explanation
Answer: B. The provision postpones the start of cover for an employee absent through illness or injury on the effective date, which is a limited substitute for individual underwriting. It does not terminate cover on leave or impose annual evidence.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, actively at work
More life insurance policies questions
- An owner converts a term policy and may choose attained age or original age. What is the trade?
- An owner of continuous premium whole life wants to pay less in a difficult year. What does the contract permit?
- An owner wishes to move the value of an old policy into a single premium whole life contract. What preserves the deferral?
- At what premium is the individual policy issued on conversion from group cover?
- Does a level premium term policy accumulate cash value the owner may reach?
- Does the index credit on a fixed indexed life policy include dividends paid on the shares in the index?
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