Question

What is a characteristic of Group (Term) Insurance Scheme?

a.

It provides only maturity value at the end of the term.

b.

Medical evidence is always required for coverage.

c.

It covers only a specific category of individuals.

d.

Administration is on a group basis with simple insurability conditions.

Posted under IC 89 Management Accounting

Answer: (d).Administration is on a group basis with simple insurability conditions. Explanation:Group (Term) Insurance Scheme is administered on a group basis with low cost and allows life insurance cover to all members of a group with simple insurability conditions.

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Q. What is a characteristic of Group (Term) Insurance Scheme?
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