13.1b

Question 1

As an exception, defined by the NAIC and adopted by the states, ______ cannot be named as beneficiary on an employee’s life policy in a group life contract since the employer is also the group contract master policyowner. Employer group life insurance contracts must be established for the benefit of the company’s employees and their dependents, not for the benefit ______.

Answer 1

an employer

of the company

Question 2

A ‘true group’ is defined by the NAIC as ______; however, some states are more lenient on this requirement.

Answer 2

a group that includes 10 or more covered people under a single master contract

Question 3

A ______ is not required of a group insurance plan.

Answer 3

individual medical exam

Question 4

In a group life contract, the employer is the ______; the employee is issued a ‘certificate of insurance’

Answer 4

‘master policyowner,’

Question 5

A group life insurance policy must allow an employee to convert his or her policy into an individual plan with the same insurer upon leaving the group due to termination of employment or termination of the group’s master policy without ______.

Answer 5

requiring the individual to provide proof of insurability