Group Life & AnnuitiesQuestion 102 of 315
Under a group life insurance plan sponsored by an employer, who holds the master contract and who receives a certificate of insurance?
a.The employer holds the master contract; each covered employee receives a certificate of insurance
b.The insurer holds the master contract; the employer receives the certificate
c.Each employee holds the master contract; the employer receives the certificate
d.Both employer and employees hold copies of the master contract
Explanation
In group life insurance the sponsoring employer (or association) is the policyowner and holds the single master contract. Each insured employee receives only a certificate of insurance summarizing coverage, beneficiary, and conversion rights.
Law Reference: Cal. Ins. Code §10202Practice all 315 questions free — no signup required.
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)