A Modular Benefits Plan Allows Employees to Select Different Bundles

question 103

True/False

A modular benefits plan allows employees to select different bundles of benefits or different levels of benefits.

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Definitions:

Discrepancy

A lack of compatibility or uniformity that leads to a difference between things that should be the same, often leading to conflict or confusion.

Avoid

To keep oneself from doing something, or to prevent a particular outcome from happening.

Transaction

An instance of buying or selling something; a business deal or action.

Utmost Good Faith

A legal doctrine requiring parties in certain types of contracts, such as insurance, to act honestly and disclose all relevant information.