State RegulationsFL specificDifficulty 1/5
A labor union wants to obtain group life insurance for its members in Florida. Which statement is correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Chapter 627, Florida Statutes, labor unions are a recognized category of eligible groups: a union may be the policyholder of a group life master policy covering its members, who each receive certificates as evidence of coverage. The union need not limit coverage to officers, and employers are not the only possible sponsors of group life plans.
Why the other options are wrong
- A) Labor unions are expressly among the eligible groups for group life insurance.
- B) Employers, associations, creditor groups, and unions can all sponsor group life - employers are not exclusive.
- D) Coverage under a union plan is for members generally, not restricted to officers.
Memory hook
Unions can hold the master policy too.