West Virginia State Life Insurance Practice Exam

A person who is insured within a group contract typically receives a certificate. This document serves as proof of insurance for the individual member of the group and outlines the coverage they are entitled to under the group policy. It is not the entire policy document; instead, it summarizes the key features and benefits that apply specifically to the insured individual.

The certificate is important because it provides details such as coverage limits, policy exclusions, and any other essential provisions that pertain to the individual’s insurance within the group. This document is often more concise and easier to understand than the master policy, which is held by the organization or employer that established the group insurance plan.

While a master policy represents the contractual agreement between the insurer and the group, it is primarily intended for the organization and may not be very useful for individual members. A summary plan description provides a high-level overview but is not a certificate of insurance. A policy booklet may offer more details but is typically not specific to the individual member, making the certificate the most relevant document for those insured within a group.