Arkansas Life and Health Insurance Practice Exam

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Which type of insurance policy is designed to offer coverage to employees under one master contract?

  1. Individual Life Insurance

  2. Group Life Insurance

  3. Whole Life Insurance

  4. Universal Life Insurance

The correct answer is: Individual Life Insurance

Group Life Insurance is the type of insurance policy designed to offer coverage to employees under one master contract. This option differs from Individual Life Insurance, Whole Life Insurance, and Universal Life Insurance as they are not specifically structured to provide coverage to a group of people under one master contract. Individual Life Insurance is typically purchased by an individual for personal coverage, whereas Whole Life Insurance and Universal Life Insurance are types of permanent life insurance that offer coverage to an individual.

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