Florida Life and Health Insurance License Practice Test

Which of the following is a standard provision of the conversion privileges in a Group Life policy?

1. Conversion at a reduced rate for a term policy.

2. Automatic conversion without the insured's consent.

3. Group Life coverage can be converted to an individual policy at regular rates on an attained-age basis

4. Conversion only with a medical exam.

The correct answer is: Group Life coverage can be converted to an individual policy at regular rates on an attained-age basis

The correct answer is C because it is the standard provision for the conversion privileges in a Group Life policy. Option A is incorrect because it does not mention the type of policy that can be converted. Option B is incorrect because it suggests that the insured may not have a say in the conversion process, which is not true. Option D is incorrect because it implies that a medical exam is always required for conversion, which is not the case for Group Life policies. Option C states that conversion can be done without a medical exam and at regular rates based on the age at the time of conversion. This is typically the case for Group Life policies and is the most common provision offered.