New York State Life Insurance Exam Questions Practice Question
An insurer would consider which of the following in determining whether to accept a group life plan?
Correct Answer: C
Rationale: In evaluating a group life plan, the average age of the members is crucial as it directly impacts the risk assessment and premium calculations. A younger average age typically suggests lower mortality risk, making the group more attractive to insurers.
Option A, the grace period, pertains to policyholder rights but does not influence the decision to accept a plan. Option B, the beneficiary, is relevant for individual policy details rather than group acceptance criteria. Option D, dependents, while important for coverage considerations, does not provide a direct measure of the group's overall risk profile.
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