Question

How does group insurance differ from individual insurance in terms of the contract?

a.

Individual insurance contracts involve multiple parties

b.

Group insurance contracts are voluntary

c.

Individual insurance contracts involve only the insurer and the individual

d.

Group insurance contracts require appraisal of individual risk

Answer: (c).Individual insurance contracts involve only the insurer and the individual Explanation:Individual insurance contracts are between the individual and the insurance company, while group insurance contracts cover a group of lives and involve a legal entity like an employer or trustees.

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Q. How does group insurance differ from individual insurance in terms of the contract?

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