Which Of The Following Statements About Noncontributory Employee Group Life Insurance Is False?

The following are characteristics of a noncontributory group term life plan: The phrase ″the whole cost of the plan is paid for by the employer″ is the one that represents the right answer.When a business offers noncontributory group term life insurance to their employees, that employer is responsible for paying the total cost of the plan on their employees’ behalf.S passes away while she is in the midst of transitioning from her group life insurance policy to an individual policy.

Why are noncontributory life insurance plans desirable?

(Noncontributory plans are beneficial from an underwriting viewpoint because they decrease the impact of adverse selection, which is lessened because all eligible employees are often covered by the plan.) What are the steps involved in converting a group plan to permanent life insurance? The conversion will take effect about one month after the termination.

Which is the best definition of a noncontributory plan?

Contributory Noncontributory Noncontributory (The employee is not required to make any contributions to the plan if it is a noncontributory plan because the company pays the whole premium.) In group life insurance, which one of these is considered to be the insured? Candidate Owner of the Insurance Policy Beneficiary

Why are noncontributory life insurance plans desirable?

(Noncontributory plans are beneficial from an underwriting viewpoint because they decrease the impact of adverse selection, which is lessened because all eligible employees are often covered by the plan.) What are the steps involved in converting a group plan to permanent life insurance? The conversion will take effect about one month after the termination.

Leave a Reply

Your email address will not be published.