Question

S, while in the process of converting her group life insurance to an individual policy, dies. what happens to the claim her beneficiary submits?

Answer 1

Answer:

Full benefits are payable under the Master contract

Explanation:

Life insurance is a contract between an insurer and an insured in which the insurer guarantees the payment of a benefit due to the death of the insured to its beneficiaries. The payment, in turn, is proportional to the premium paid in life by the insured.

The purpose of life insurance is to provide financial protection for the insured's dependents after their death. For this product to make sense, it is essential that the insured analyze their financial situation and determine the standard of living necessary for their dependents before taking out insurance.

Thus, we can conclude that during the process of converting group life insurance to an individual policy, all benefits are paid in the main contract.

Answer 2

Full benefits are payable under the Master contract