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Group life insurance is a sort of life insurance in which an individual contract covers an entire group of people. Typically, the policy proprietor is an employer or an entity such as a labor union, and the policy covers the employees or segments of the group. Group insurance also has numerous benefits over individual insurance, including the Opportunity to obtain primary coverage for all without evidence of insurability. <br>Significantly something like more economical costs, or cost-sharing with the employer. This benefits the employee who perceives that they can afford insurance for themselves and their family, but it also helps the employer who wants to give their workers good insurance that they can afford to help with. For more information get in touch with us https://www.capbluecross.com/wps/portal/cap/employer/shop-group-plans
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What is group insurance policy? 1. A policy offers advantages of standardized coverage at very competitive premium rates as risk is spread over a larger number of people. 2. Groups can be employer-employee groups or non employer- employee groups such as holders of the same credit card, account holders of a bank or members of a social or cultural association. 3. Only one master policy is issued to the manager of the group and is in the name of the group. It could be for life insurance, medical insurance or general insurance. 4. Premium can be charged to the members or paid by the group. 5. The cover can cease if one leaves the group. Group Health Insurance Source: economictimes.indiatimes.com
