Rhode Island Life Insurance Practice Exam

In a group life policy, which provision is NOT a standard requirement?

1. Accidental

2. Conversion

3. Eligibility

4. Grace period

The correct answer is: Accidental

The provision related to "Accidental" is not a standard requirement in a group life insurance policy. Group life policies are primarily governed by certain standard provisions that ensure basic protections and rights for policyholders. These typically include provisions for conversion, eligibility, and a grace period. The conversion provision allows insured individuals to convert their group coverage into an individual policy without undergoing medical underwriting when they leave the group, ensuring portability of coverage. The eligibility provision outlines the criteria under which group members can be included in the policy, helping to clearly define who is covered. The grace period provision ensures that policyholders have a specified time to pay premiums after the due date without losing coverage. While some group life policies may include benefits specifically for accidental death or injury, it is not a universally mandated provision across all group life insurance policies. Therefore, the "Accidental" provision does not need to be included in every group life policy, making it the correct answer to the question about which is not a standard requirement.