State RegulationsFL specificDifficulty 1/5
Which statement about a Florida group life insurance arrangement is correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Chapter 627, Florida Statutes, group life insurance is written as a master policy issued to a policyholder such as an employer, and each covered member receives a certificate summarizing the coverage. The member's rights come through the certificate, not a separate individual contract, and members generally name their own beneficiaries rather than the employer.
Why the other options are wrong
- A) Members get certificates under the master policy; individual policies are a different product.
- B) Employers, unions, and other associations can all be group policyholders; unions are not the only permissible group.
- D) The policyholder cannot take members' death benefits; members designate their own beneficiaries.
Memory hook
One master policy, many member certificates.