Page 31 - Life Assurance
P. 31
- A minimum percentage of eligible
employees should participate in the plan.
- There should be a third-party sharing of
costs.
- There should be simple and efficient
administration.
10- Most groups today are eligible for group
insurance benefits. However, employees must
meet certain eligibility requirements:
- Be full-time employees.
- Satisfy a probationary period in some
plans.
- Apply for insurance during the eligibility
period.
- Be actively at work when the insurance
becomes effective.
11- There are several types of group life
insurance plans:
-Group term life insurance.
-Group accidental death and
dismemberment (AD&D) insurance.
-Group universal life insurance.
95 Life41/life/life 08
employees should participate in the plan.
- There should be a third-party sharing of
costs.
- There should be simple and efficient
administration.
10- Most groups today are eligible for group
insurance benefits. However, employees must
meet certain eligibility requirements:
- Be full-time employees.
- Satisfy a probationary period in some
plans.
- Apply for insurance during the eligibility
period.
- Be actively at work when the insurance
becomes effective.
11- There are several types of group life
insurance plans:
-Group term life insurance.
-Group accidental death and
dismemberment (AD&D) insurance.
-Group universal life insurance.
95 Life41/life/life 08
