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Group Life Insurance: Definition & Types

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What are the two types of group life insurance policies?

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1. Which of the following is NOT a characteristic of a non-contributory group life insurance policy?

2. Which of the following describes a conversion privilege?

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About This Quiz & Worksheet

These study tools will revolve around the concept of group life insurance. The quiz will cover specifics including the two types of groups in this type of insurance and the characteristics involved.

Quiz & Worksheet Goals

Find out how to:

  • Identify a conversion privilege
  • Assess the concept of a taxable benefit
  • Determine a disadvantage of group life insurance

Skills Practiced

  • Information recall - access the knowledge you've gained regarding a conversion privilege
  • Reading comprehension - ensure that you draw the most important information from the related lesson on group life insurance
  • Distinguishing differences - compare and contrast topics from the lesson, such as the two types of policies for group life insurance

Additional Learning

The lesson called Group Life Insurance: Definition & Types will help you to learn more about this kind of insurance. Study objectives in the lesson are as follows:

  • Define group life insurance
  • Determine what a premium is
  • Understand how insurance functions with regard to the insurance company and the buyer
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