Question

What is the primary characteristic of group insurance?

a.

It involves providing insurance to individuals with a common attribute

b.

It offers life insurance protection only to professionals

c.

It is provided through multiple policy contracts

d.

It caters exclusively to weaker sections of society

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (a).It involves providing insurance to individuals with a common attribute Explanation:Group insurance involves providing insurance to a group of individuals who share some common attribute, such as employer-employee groups, professionals, cooperatives, etc., through a single policy contract.

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Q. What is the primary characteristic of group insurance?
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