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Generally 25 or more people are needed for Group life insurance...............................but it may also vary in different group policies of different company, it may be 10 also.
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What is group life insurance policy?
group 2339
What is portable life insurance?
A life insurance policy is "portable" when upon leaving the group policy, you transfer your life coverage to an individual life policy with the same insurance carrier with no changes to the policy or increase in premium.
What is grouping property?
A policy providing liability insurance in a similar to a group life insurance policy
Which age group has life insurance?
A life insurance policy can be had from 0 age (child policy) to a person of maximum 65 years (pension policy).
Is there a suicide clause on a group life insurance policy?
no
How do you find out if a life insurance policy benefit has been paid?
has life insurance benefits been paid : group life insurance policy #4600 certificate #8525 Name William C Morgan
Where can one find Group Universal Life Insurance?
Group universal life insurance, which is a voluntary life insurance policy can be found through MetLife. Here one wil find all information regarding the insurance.
It is not important to have a life insurance policy.?
It is not important to have a life insurance policy.
What is the difference between group term life insurance and individual term life insurance?
Group term life insurance is a type of life insurance provided for employees by their employer. An employer buys a master policy and issues certificates to employees denoting coverage under the plan. Group life insurance is also available through unions and associations. It is usually issued as yearly renewable term insurance, but some plans provide permanent life insurance. Employers may pay all of the cost, or share the cost with employees. Regardless of your reason for termination of employment, employees may have the option to convert their coverage to an individual life insurance policy without evidence of insurability or taking a physical examination. Usually, conversion must be within 30 days of ending your employment. The new premium upon conversion of the policy is based on the employee's age at the time. An individual life insurance policy is owned by the insured (in most cases). The insured usually pays the premiums and decides who the beneficiaryis for the policy. An indivual life insurance policy insured just one life. A group life insurance policy insures many lives.
What is the executor on a life insurance policy?
The Policy Holder of a life insurance policy is the executor of the said policy.
Can you collect life insurance on someone declared incompetenet?
Probably not unless the insurance company decides to allow it or it was a provision in the life insurance policy. Normally, people are not able to collect on their life insurance policy until the insured dies.
If a company has purchased group life insurance for its employees and is then acquired by another company is the group life insurance policy still valid?
Yes, until renewal time. Rarely is there a problem with keeping the same coverage, because that is a big money make for insurance companies. (group life)
