All of the Following Statements About Group Universal Life Insurance

question 8

Multiple Choice

All of the following statements about group universal life insurance are true EXCEPT

• A)Interest rates credited to a policy vary over time but are subject to a minimum guarantee.
• B)Premiums can be varied as long as the cash value is sufficient to pay current mortality and expense charges.
• C)Coverage is issued on a guaranteed basis up to certain limits with no evidence of insurability.
• D)At retirement,an employee must begin liquidating his or her cash value in the form of an annuity.

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Definitions:

Injunctive Norm

Socially accepted rules or standards that dictate what is considered appropriate or inappropriate behavior within a group or society.

Reciprocal

Pertains to mutual exchange or influence between individuals or groups, where actions or benefits are given and received in turn.

Facebook

A social media platform that allows users to connect with friends and family, share content, and participate in various groups and activities.

Autokinetic Effect

A visual phenomenon where a stationary point of light in a dark environment appears to move due to minor involuntary eye movements.