Xcel 2-15 Florida Life & Health State Exam Simulator Already Passed.

Xcel 2-15 Florida Life & Health State Exam Simulator Already Passed. what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 multiple choice options which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 multiple choice options an insureds inability to perform two or more activities of daily living may trigger which type of life policy rider long term care 3 multiple choice options B recently died and was insured with a life insurance policy for over five years. During the claims process, the insurer discovered that B had understated his age by 5 years at the time of application. In this situation, the insurer will pay the amount that the premium would have purchased at the correct age 3 multiple choice options what action can a policyowner take if an application for a bank loan requires collateral assign policy ownership to the bank 3 multiple choice options We have an expert-written solution to this problem! what is required in the Florida Employee Health Care Access Act small group benefit plans are to be issued on a guarantee issue basis 3 multiple choice options P is a forty year old woman and would like to purchase an annuity that will provide a lifetime income stream beginning at age sixty. Which of the following did she NOT buy? an immediate annuity 3 multiple choice options the situation in which a group of physicians are salaried employees and conduct business in an hmo facility is called closed panel 3 multiple choice options T sends proof of loss to her insurer for an acceptable medical expense claim under her individual Health Insurance policy. Upon receipt, the insurer must pay the benefits immediately 3 multiple choice options an application for medicare supplement coverage may not be denied by the insurer if the application was submitted within ______ month(s) after the applicant reaches the age 65 six 3 multiple choice options when a policyowner cash surrenders a universal life insurance policy in its early years, this may be considered a red flag for a(n) anti money laundering violation 3 multiple choice options When is a Group Health policy required to provide coverage for a newborn child? at the moment of birth 3 multiple choice options which of the following situations does not apply to the florida replacement rule an existing policyholder purchases an additional policy from the same insurer 3 multiple choice options under a renewable term policy the renewal premium is calculated on the basis of the insured's attained age 3 multiple choice options D owns a Whole Life policy that was purchased 10 years ago. If the premium payments suddenly stop and D takes no additional action, which Nonforfeiture Option will the insurer likely proceed with? extended term 3 multiple choice options In Florida, which employee is eligible for an employer's group term life plan? employee who works more than 40 hours per week 3 multiple choice options which of the following statements is correct regarding an employer/employee group health plan the employer receives a master policy and the employees receive certificates 3 multiple choice options all of the following statements regarding a tax sheltered annuity (tsa) are true except income derived from the tsa is received income tax free 3 multiple choice options How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy? if the primary beneficiary dies before the insured 3 multiple choice options A student pilot can pay regular premium costs for her life insurance policy with the addition of which of the following? aviation exclusion 3 multiple choice options which of these statements is incorrect regarding a preferred provider organization (ppo)? ppos are not a type of managed care systems 3 multiple choice options which of the following is considered an accurate statement of an unfair trade practice? twisting involves an agent using misrepresentation to convince a policyowner to cancel their current policy so that they can purchase a new life insurance policy with another company 3 multiple choice options what is floridas definition of life insurance replacement a transaction in which a new policy is bought and an old policy is terminated 3 multiple choice options a sole proprietor may use this plan only if the employees of this business are included keogh pension plan 3 multiple choice options a primary beneficiary has died before the insured in a life insurance policy. a contingent beneficiary is also named in the policy. which of the following will occur when the insured dies proceeds will go to the contingent beneficiary 3 multiple choice options Upon delivery of a rated life insurance policy, the Producer must obtain each of the following EXCEPT signed hipaa disclosure 3 multiple choice options which of these is not relevant when the determining the amount of personal life insurance needed local unemployment rates 3 multiple choice options Before a life insurance policy is issued, which of these components of the contract is required? applicants signature on application 3 multiple choice options W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the company discovered W's true age at issue had been 59. What would the normal procedure be under the misstatement of age provision in regard to the payment of the death claim? the proceeds would be reduced based on whatever the premium would have been if purchased at age 59 3 multiple choice options a business overhead expense policy would cover which of the following if a business owner becomes disabled utilities and office rent 3 multiple choice options a policyowner may generate taxable income from which of the following dividend options accumulation at interest 3 multiple choice options a life insurance policy which ensures that the premium will be paid if the insured becomes disabled has what kind of rider attached waiver of premium 3 multiple choice options T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight Life Annuity. What will this transaction provide? income that cannot be outlived by the owner 3 multiple choice options We have an expert-written solution to this problem! Which rider provides coverage for a child under a parent's life insurance policy? child term rider 3 multiple choice options We have an expert-written solution to this problem! who has the option to renew a renewable term policy insured 3 multiple choice options P is the insured on a participating life policy. Which statement is true if P's premiums are waived due to a disability? p will still receive declared dividends 3 multiple choice options P is looking to purchase a life insurance policy that will pay a stated monthly income to his beneficiaries for 20 years after he dies and a lump sum of $20,000 at the end of that 20 year period. What type of policy should P purchase? family maintenance policy 3 multiple choice options We have an expert-written solution to this problem! Y purchased $100,000 worth of permanent protection on himself and $50,000 worth of 10-year Term coverage for his wife on the same policy. Which of these policies did Y purchase? whole life policy with an other insured rider 3 multiple choice options what type of policy would offer a 40 year old the quickest accumulation of cash value 20 pay life 3 multiple choice options We have an expert-written solution to this problem! An insured covered by Accidental Death and Dismemberment (AD&D) insurance has just died. What will happen if the primary beneficiary had already died before the insured and contingent beneficiary? proceeds will go to the contingent beneficiary 3 multiple choice options T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert to an individual policy upon employment termination 3 multiple choice options C is the policyowner of a comprehensive individual major medical policy. C pays an annual premium which is due September 1. If C forgets to pay the premium and is hospitalized September 10, how will the insurer handle this claim? pay the claim in full minus the premium date 3 multiple choice options a(n) _______ annuity pays benefits based on units rather than stated dollar amounts variable 3 multiple choice options Three law partners form a Cross-Purchase Buy and Sell agreement. This agreement is funded with individual life insurance. How many total life policies are needed for this agreement? 6 3 multiple choice options what type of employee welfare plans are not subject to ERISA regulations church plans 3 multiple choice options traditional individual retirement annuity (ira) distributions must start by april 1st of the year following the year the participant attains age 70 1/2 3 multiple choice options which of these are not an example of a nonforfeiture option life income 3 multiple choice options eligibility for coverage under the forida healthy kids corporation requires a family to be within ______ of the federal poverty level 200% 3 multiple choice options according to florida law, which of the following information does not need to be obtained by an agent recommending an annuity purchase marital status 3 multiple choice options We have an expert-written solution to this problem! when is it acceptable to share commissions with another agent as long as both agents are licensed for the same lines of insurance 3 multiple choice options what is the elimination period of an individual disability policy time period a disabled person must wait before benefits are paid 3 multiple choice options which type of provider is known for stressing preventative medical care and routine physical examinations health maintenance organizations (hmos) 3 multiple choice options We have an expert-written solution to this problem! group health plans typically contain a coordination of benefits (cob) provision. this provisions purpose is to avoid the duplication of benefit payments 3 multiple choice options a noncontributory group term life plan is characterized by the entire cost of the plan is paid for by the employer 3 multiple choice options a disability income policyowner recently submitted a claim for a chronic neck problem that has now resulted in total disability. the original neck injury occurred before the application was taken 5 years prior. the neck injury was never disclosed to the insurer at the time of application. how will the insurer handle this claim? claim will be paid and coverage will remain in force 3 multiple choice options an insurance company would most likely pay benefits under an accidental death and dismemberment policy for which of the following losses? loss of eyesight due to an accidental injury 3 multiple choice options a life insurance arrangement which circumvents insurable interest statutes is called investor originated life insurance 3 multiple choice options which entity approves the insurance policy forms used in florida office of insurance regulation (oir) 3 multiple choice options the provision that defines to whom the insurer will pay benefits to is called payment of claims 3 multiple choice options a life insurance application may be rejected on the basis of all of these factors except gender 3 multiple choice options which two entities regulate variable annuities Department of Financial Services; and Securities Exchange Commission 3 multiple choice options How many hours of continuing education must a newly licensed agent compete every two years 24 3 multiple choice options N, age 50, recently bought an annuity that will pay a guaranteed $2,000/month at age 70 for life. What type of annuity did N purchase? fixed deferred 3 multiple choice options a business disability buyout plan policy is designed to pay benefits to the corporation or other shareholders 3 multiple choice options Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? guaranteed insurability rider 3 multiple choice options We have an expert-written solution to this problem! which of the following acts is an agent not authorized to do on behalf of an insurer authorize claim payments 3 multiple choice options according to florida law in which of the following situations would a dependent handicapped child not be covered under a family health policy the premiums for the handicapped child are not paid 3 multiple choice options T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an irrevocable beneficiary. What action will the insurance company take if T requests a change of beneficiary? request of the change will be refused 3 multiple choice options what action will an insurer take if an interest payment on a policy loan is not made on time automatically add the amount of interest due to the loan balance 3 multiple choice options all of the following are eligibility requirements for an association group except contributory plans require a minimum of 25 participants 3 multiple choice options Which required disclosure helps a buyer choose the amount and type of insurance to buy, and how to save money by comparing the cost of similar policies? buyers guide 3 multiple choice options J's Major Medical policy has a $2,000 deductible and an 80/20 Coinsurance clause. If J is hospitalized and receives a bill for $10,000, J would pay 3600 3 multiple choice options P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration of COBRA laws, which of the following statements is TRUE? she does need to provide evidence of insurability 3 multiple choice options all of these statements about equity indexed life insurance are correct except the premiums can be lowered or raised, based on investment performance 3 multiple choice options upon reaching the limiting age, a disabled child may extend their health insurance coverage as a dependent only if the child is incapable of employment and chiefly dependent on the policyowner 3 multiple choice options what is the purpose of the insurance guaranty fund association protects policyowners against insolvent insurance companies 3 multiple choice options who is normally considered to be the owner of a 403(b) tax sheltered annuity the employee 3 multiple choice options Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? policy was returned within the free look period, premium will be fully refunded 3 multiple choice options which is true concerning a variable universal life policy policyowner controls where the investment will go and selects the amount of the premium payment 3 multiple choice options When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld? none 3 multiple choice options which of the following is not an unfair claim settlement practice needing written documentation of claim details 3 multiple choice options the ______ has the right to change a life insurance policys beneficiary policyowner 3 multiple choice options which of the following can an agent provide to help a prospective client understand and purchase the most appropriate byproduct buyers guide 3 multiple choice options which of the following statements is correct regarding the tax treatment of a lump sum payment paid to a life insurance policys primary beneficiary all proceeds are income tax free in the year they are received 3 multiple choice options which of these is a true statement regarding medicaid funded by both state and federal governments 3 multiple choice options the provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is disabled is called the waiver of premium 3 multiple choice options which statement is correct regarding the premium payment schedule for whole life policies premiums are payable throughout the insureds lifetime, coverage lasts until death of the insured 3 multiple choice options the individual health insurance policy that offers the broadest protection is a(n) _______ _______ policy major medical 3 multiple choice options all of these are considered to be a benefit under social security except unemployment 3 multiple choice options all individuals under a group contract will receive a(n) certificate 3 multiple choice options the department of financial services serves as the receiver of any insurer placed into receivership 3 multiple choice options a policyowners rights are limited under which beneficiary designation irrevocable 3 multiple choice options which of these is not a reason for purchasing life insurance on the life of a minor if both parents were to die, it would provide death benefits to the child 3 multiple choice options a health reimbursement arrangement must be established by the employer 3 multiple choice options life insurance companies are required to establish and maintain an anti money laundering compliance program according to which federal regulation usa patriot act 3 multiple choice options We have an expert-written solution to this problem! Disability policies do NOT normally pay for disabilities arising from which of the following? war 3 multiple choice options information obtained from a phone conversation to the proposed insured can be found in which of these reports inspection report 3 multiple choice options when is the face amount of a whole life policy paid when the insured dies or at the policys maturity date, whichever happens first 3 multiple choice options which of the following statements about health reimbursement arrangements (hra) is correct if the employee paid for qualified medical expenses, the reimbursements may be tax free 3 multiple choice options With a medical discount plan, how often would a person generally pay a fee to get discounts on specific services? monthly 3 multiple choice options We have an expert-written solution to this problem! Agent J takes an application and initial premium from an applicant and sends the application and premium check to the insurance company. The insurance company returns the check back to J because the check is made out to J instead of the insurance company. What action should J take? return to the customer, collect a new check made out to the insurance company, and send the new check out to the insurance company 3 multiple choice options which of the following life insurance policies combine term insurance with an investment element universal life 3 multiple choice options which of the following statements best describes the intent of a coinsurance clause in a major medical policy discourages overutilization of the insurance coverage 3 multiple choice options term insurance has which of the following characteristics expires at the end of the policy period 3 multiple choice options which of the following is an example of a nonforfeiture option reduced paid up option 3 multiple choice options T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? 0 3 multiple choice options a stock life insurance company that issues both participating and nonparticipating policies is doing business on a mixed plan 3 multiple choice options Tom has a qualified retirement plan with his employer that is currently considered to be 80% "vested". How can this be interpreted? if toms employment is terminated, 20% of the funds would be forfeited 3 multiple choice options the accelerated death benefit provision in a life insurance policy is also known as a(n) living benefit 3 multiple choice options We have an expert-written solution to this problem! An employee requested that the balance of her 401(k) account be sent directly to her in one lump sum. Upon receipt of the distribution, she immediately has the funds rolled over into an IRA. What is the tax consequence of the distribution sent to this employee? distribution is subject to federal income tax withholding 3 multiple choice options A group plan was recently terminated. In Florida, how many days are covered individuals guaranteed coverage after a group plan's termination? 31 days 3 multiple choice options Under the USA Patriot Act, insurers are required to report receipt of cash payments in excess of 10000 3 multiple choice options a life insurance policyowner may sell their policy to a(n) _______ in order to receive a percentage of the policys face value viatical settlement provider 3 multiple choice options all of the following entries are classified under the four principal areas of florida insurance law except an agents commission 3 multiple choice options an agent that sells _______ life insurance must be registered with the financial industry regulatory authority (finra) variable 3 multiple choice options a(n) ______ term life policy is normally used when covering an insured mortgage balance decreasing 3 multiple choice options an ira owner can start making withdrawals and not be subjected to a tax penalty beginning at what age 59 1/2 3 multiple choice options We have an expert-written solution to this problem! asset protection can be provided by a long term care partnership policy if the policyholder qualifies for medicaid 3 multiple choice options according to florida law when must an agent deliver the outline of coverage to a medicare supplement applicant at the time of the application 3 multiple choice options which of these is considered a statement that is assured to be true in every respect warranty 3 multiple choice options a 20000 life insurance policy application is completed, however the producer does not collect the initial premium. at what point does the coverage go into effect when the applicant receives the policy and pays the initial premium 3 multiple choice options which of the following is not required on every insurance application sold in florida address and phone number of the agent 3 multiple choice options Which health policy clause specifies the amount of benefits to be paid? insuring 3 multiple choice options post tax dollar contributions are found in roth ira investments 3 multiple choice options in a life insurance contract, an insurance companys promise to pay stated benefits is called the insuring clause 3 multiple choice options P received Disability income benefits for 3 months then returns to work. She is able to work one month before her condition returns, leaving her disabled once again. What would the insurance company most likely regard this second period of disability as? a recurrent disability 3 multiple choice options a life insurance policy would be considered a wagering contract without insurable interest 3 multiple choice options a life insurance policys grace period entitles the insured a period of no less than _____ days to make the premium payment 30 3 multiple choice options the consideration clause in a life insurance contract contains what pertinent information amount of premium payments and when they are due 3 multiple choice options which of the following consists of an offer, acceptance, and consideration? contract 3 multiple choice options all of the following will result in the suspension of an agents license except acting with fiduciary responsibility 3 multiple choice options K made a fraudulent statement on her health insurance policy application. In the event of a claim on this policy, the insurance company is required to pay nothing 3 multiple choice options which of the following employees may not be excluded from a group life plan full time employees after the probationary period 3 multiple choice options which of the following statements about a guaranteed renewable health insurance policy is correct premiums normally increase at time of renewal How are surrender charges deducted in a life policy with a rear-end loaded provision? deducted when the policy is discontinued 3 multiple choice options An employer that offers a qualified retirement plan to its employees is eligible to make tax deductible contributions to the plan 3 multiple choice options the purpose of the _______ period clause is to avoid an unintentional lapse of a life insurance policy grace 1 multiple choice option an employee of 20 years recently retired at age 59 1/2. this employee group life contract can be converted to an individual permanent policy at an individual rate 3 multiple choice options K is shopping for a permanent life insurance policy that will offer her the MOST protection per dollar of annual premium. Which of these policies best fits her needs? straight life 3 multiple choice options When a policyowner exchanges a term policy for a whole life policy without providing proof of good health, which of these apply? conversion provision 3 multiple choice options s is covered by a whole life policy. which is insurance product can cover his children child term rider 3 multiple choice options what is the purpose of a policy summary It highlights the critical parts of the policy issued 3 multiple choice options life insurance that covers an insureds whole life with level premiums paid over a limited time is called limited pay life 3 multiple choice options We have an expert-written solution to this problem! K pays on a $20,000 20-Year Endowment policy for 10 years and dies from an automobile accident. How much will the insurance company pay the beneficiary? 20000 death benefit 3 multiple choice options the benefits under a disability buy out policy are payable to the company or another shareholder 3 multiple choice options What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? 50% 3 multiple choice options what are adjustable rates for life policy loans in florida based on moodys corporate bond index 3 multiple choice options an example of an unfair claims settlement practice is turning down a claim without providing the basis of denial 3 multiple choice options J let her life insurance policy lapse 8 months ago due to nonpayment. She can reestablish coverage under which of the following provisions? reinstatement provision 3 multiple choice options which of the following is not required in the outline of a coverage for a health insurance policy projection of the policys future costs 3 multiple choice options Which of these actions is taken when a policyowner uses a Life Insurance policy as collateral for a bank loan? collateral assignment 3 multiple choice options employers with less than _______ employees are affected by floridas health insurance coverage continuation act (mini cobra) 20 3 multiple choice options what does the insuring agreement in a life insurance contract establish an insurers basic promise 1 multiple choice option what is the maximum number of employees (earning at least 5000) that an employer can have in order to start a SIMPLE retirement plan 100 3 multiple choice options We have an expert-written solution to this problem! an agent selling medicare supplement policies must provide every applicant with a(n) suitability form 3 multiple choice options in florida, an insurer domiciled and incorporated in this state is called a(n) domestic company 1 multiple choice option the coordination of benefits (cob) provision exists in order to avoid duplication of benefit payments 3 multiple choice options according to floridas life insurance replacement laws, a policyowner must be provided with a written comparison and summary statement when its requested by the policyowner 3 multiple choice options what group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability conversion 3 multiple choice options an agents license can be suspended or revoked by writing primarily controlled business 3 multiple choice options the policy summary contains specific information on all of the following except commission 3 multiple choice options T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? increase her policys coverage amount 3 multiple choice options according to florida law, an additional lapse notice must be issued after the standard grace period has expired for policyowners age 64 years or older 3 multiple choice options J is issued a Life Insurance policy with a death benefit of $100,000. She pays $600 per year in premium for the first 5 years. The premium then increases to $900 per year in the sixth year, and remains level thereafter. The policy's death benefit also remains at $100,000. Which type of Life Insurance policy is this? modified premium life 3 multiple choice options We have an expert-written solution to this problem! which of the following statements describes what an accident and health policyowner may not do adjust the premium payments 3 multiple choice options T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date of the application or medical examination, whichever is later. Assuming that T is an acceptable risk, what item is given to T? conditional receipt 3 multiple choice options an insurer must provide an insured with claim forms within _____ days after receiving notice of a loss 15 3 multiple choice options which of the following provisions guarantees that premiums will be waived if a juvenile life policyowner becomes disabled? payor clause 3 multiple choice options What does a Guaranteed Insurability rider provide a Disability Income policyowner? the ability to periodically increase the amount of coverage without evidence of insurability 3 multiple choice options We have an expert-written solution to this problem! K becomes ill after traveling overseas and is unable to work for 3 months. What kind of policy would cover her loss of income? disability income 3 multiple choice options which of these statements accurately describes the waiver of premium provision in an accident and health policy premiums are waived after the insured has been totally disabled for a specified time period 3 multiple choice options which of the following is considered an element of a variable life policy underlying equity investment 3 multiple choice options which of the following are not managed care organizations medical information bureau (mib) 3 multiple choice options which of the following factors is not considered when the department of financial services determines if an agents home is an insurance agency the amount of premium collected at this location 3 multiple choice options what is the underlying concept regarding level premiums the early years are charged more than what is needed 3 multiple choice options when is the face amount paid under a joint life and survivor policy upon the death of the last insured 3 multiple choice options S buys a $50,000 whole life policy with a $50,000 Accidental Death and Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer pay the beneficiary? 50000 3 multiple choice options We have an expert-written solution to this problem! in florida, a health policy that is paid on a quarterly basis requires a grace period of 31 days 3 multiple choice options what is the initial source of underwriting for an insurance policy application containing statements from the insured 3 multiple choice options an applicant who pays the initial premium at the time of application is typically given a(n) conditional receipt 3 multiple choice options according to florida law, a group life insurance policy requires a minimum of how many insureds no minimum 3 multiple choice options which of the following actions require a policyowner to provide proof of insurability in an adjustable life policy increase face amount 3 multiple choice options T is given a receipt After completing a life insurance application and paying the initial premium. Under this situation, T's coverage is conditional, depending on the insurers underwriting guidelines 1 multiple choice option which of these life products is not considered interest sensitive modified whole life 3 multiple choice options What benefit does the Payor clause on a Juvenile Life policy provide? premiums are waived if the payor becomes disabled 3 multiple choice options which of the following statements about the classification of applicants is incorrect substandard applicants are never declined by underwriters 3 multiple choice options an example of an unfair claims practice would be failing to effectuate prompt, fair, and equitable settlements of a claim 3 multiple choice options how does a typical variable life policy investment account grow through mutual funds, stocks, bonds 3 multiple choice options a potential client age 40 would like to purchase a whole life policy that will accumulate cash value at a faster rate in the early years of the policy. which of these statements made by the producer would be correct? 20 pay life accumulates cash value faster than straight life 3 multiple choice options the insuring clause states the scope and limits of the coverage 3 multiple choice options When an insurance application is taken by a producer, which of these statements is true? any changes made on the application require the applicants initials 3 multiple choice options florida requires that coverage for newborns begins from the moment of birth and continues for 18 months 3 multiple choice options a(n) ______ _______ life policy combines investment choices with a form of term coverage variable universal 3 multiple choice options premature ira distributions are assessed a penalty tax of 10% 3 multiple choice options F needs life insurance that provides coverage for only a limited amount of time with a death benefit that changes regularly according to a schedule. What kind of policy is needed? decreasing term policy 3 multiple choice options We have an expert-written solution to this problem! the first portion of a covered major medical insurance expense that the insured is required to pay is called the initial deductible 3 multiple choice options an individual covered under a group life insurance policy is considered to be a(n) certificate holder 3 multiple choice options