Question

What aspect of group insurance administration helps in cost reduction?

a.

Individual underwriting for each member

b.

Issuing many individual policies

c.

Underwriting the group as a whole

d.

Having separate sales processes for each policy

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Underwriting the group as a whole Explanation:Underwriting the group as a whole instead of each individual member helps in reducing costs in group insurance administration.

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Q. What aspect of group insurance administration helps in cost reduction?
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