New York State Life Insurance Exam Questions Practice Question
How many days does a terminated employee have to convert their group life insurance policy to an individual policy?
Correct Answer: B
Rationale: When an employee's group life insurance policy is terminated, they typically have a specified period to convert it to an individual policy without undergoing medical underwriting. This conversion period is usually 31 days, allowing the individual time to secure coverage.
Option A (15 days) is too short, as it does not provide adequate time for the transition. Option C (45 days) extends beyond the standard timeframe, which may lead to confusion. Option D (60 days) is also incorrect, as it exceeds the typical conversion period. Thus, 31 days is the appropriate duration for this process.
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