Q. How is dependent insurance in a group life insurance scheme typically characterized in terms of coverage levels compared to the employee?

View solution

Q. What is the primary reason employer-employee group insurance schemes can offer a Free Cover Limit (FCL) without requiring individual evidence of insurability for coverage up to a certain level?

View solution

Q. What is one of the significant benefits of implementing a Free Cover Limit (FCL) in an employer-employee group insurance scheme?

View solution

Q. How does the presence of a Free Cover Limit (FCL) in a group insurance scheme impact the spread of mortality risk among the insured population?

View solution

Q. What challenge is associated with setting the Free Cover Limit (FCL) too high in an employer-employee group insurance scheme?

View solution

Q. How does the size of an employer-employee group affect the Free Cover Limit (FCL) set by insurers?

View solution

Q. What underwriting requirements may an insurer impose for coverage amounts exceeding the Free Cover Limit (FCL)?

View solution

Q. What distinguishes compulsory plans from voluntary plans in employer-employee group insurance schemes?

View solution

Q. What is a potential advantage of voluntary plans in employer-employee group insurance schemes?

View solution

Q. What is a key characteristic of salary savings schemes for employer and employee groups in India?

View solution

Q. What is one of the basic requirements for designing a group insurance scheme to prevent anti-selection?

View solution

Q. What is the purpose of having an automatic basis to determine the level of coverage per employee in a group insurance scheme?

View solution

Q. Who is typically eligible for insurance cover in a group insurance scheme?

View solution

Q. What additional eligibility condition may apply for employees to qualify for insurance coverage?

View solution

Q. What is the purpose of a waiting period in a group insurance scheme?

View solution

Q. When does coverage typically cease in a group insurance scheme?

View solution

Q. How is disability handled in group insurance schemes in some developed countries?

View solution

Q. Which approach provides extended death benefit coverage for employees who become totally disabled prior to retirement age?

View solution

Q. What is typically required for continued waiver of premium in group insurance schemes?

View solution

Q. How does a new group term plan come into existence?

View solution