New York State Life Insurance Exam Questions Practice Question
The most common use of a group life insurance policy is to insure
Correct Answer: A
Rationale: Group life insurance policies primarily serve to provide coverage for company employees. This type of insurance is typically offered as part of an employee benefits package, ensuring that workers have financial protection for their families in the event of their death.
Option B, members of a family, is incorrect as individual family members are usually not covered under a single group policy. Option C, business organizations, is misleading; while businesses may hold group policies, the primary beneficiaries are the employees. Option D, contractors of a business, is also incorrect since contractors are generally not included in group policies aimed at employees.
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