Which of the following statements regarding group credit life insurance is NOT correct?
A) When a debt or loan has been repaid, the policy ceases to provide coverage.
B) Depending on the loan amount, evidence of insurability may be required.
C) Premiums on a group policy are less expensive than premiums charged for individual policies.
D) The insurance amount is equal to the loan amount or debt owed.
Ans: B) Depending on the loan amount, evidence of insurability may be required.
Business
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