With regards to group life insurance, which of the following statements are true? 1. An individual employee does not typically have the freedom to select a specific amount of insurance coverage, but rather the amount of coverage is typically a fixed dollar amount, or a variable amount in relationship to the employee's annual income. 2. There is typically a change in the premium rate each year. 3. Group insurance is normally a permanent type of insurance policy that provides long-term insurance protection for a significant number of Canadians. 4. An employee who participates in a group life insurance plan normally has the opportunity to designate a beneficiary. 5. Group life insurance plans typically do not apply age restrictions for participation in the plan.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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With regards to group life insurance, which of the following statements are true?

1. An individual employee does not typically have the freedom to select a specific amount of insurance coverage, but rather the amount of coverage is typically a fixed dollar amount, or a variable amount in relationship to the employee's annual income.
2. There is typically a change in the premium rate each year.
3. Group insurance is normally a permanent type of insurance policy that provides long-term insurance protection for a significant number of Canadians.
4. An employee who participates in a group life insurance plan normally has the opportunity to designate a beneficiary.
5. Group life insurance plans typically do not apply age restrictions for participation in the plan
.

 

 
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