Question
a.
They must not have been absent from work due to sickness for more than 3 weeks per year during the previous 2 years.
b.
They must have completed at least one year of continuous service with the employer.
c.
They must be younger than the retirement age, typically around 60 years.
d.
They must provide evidence of insurability at the time of joining the scheme.
Posted under IC 92 Actuarial Aspects of Product Development
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What additional eligibility condition may apply for employees to qualify for insurance coverage?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
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
Q. Which of the following is NOT typically included in the general description of a group insurance product?
View solution
Q. Which of the following is a requirement specified in the Form IRDA-Life-Non Linked-NP for insurers to file a group term product to IRDA of India?
View solution
Q. What aspect of group insurance product design helps avoid anti-selection by individuals within a group?
View solution
Q. What information is typically required to be provided under the heading "Reinsurance" when filing a group term product with IRDA of India?
View solution
Q. Which of the following parameters is typically included in the financial projections section when filing a group term product with IRDA of India?
View solution
Q. Which of the following statements regarding the submission of policy terms and conditions to IRDA of India is accurate?
View solution
Q. What types of occupations are typically included in Class 1 of the occupation classification?
View solution
Q. Which occupation class may include skilled craftsmen and tradesmen whose duties involve only light manual work?
View solution
Q. Which occupation class may include auto and auto-related manufacturing, assembly, service and repair workers, along with farmers and long and short haul truck drivers?
View solution
Q. How is the pure risk premium calculated for a group?
View solution
Q. What does the gross premium include?
View solution
Q. How are expenses handled in the calculation of gross premium for group insurance?
View solution
Q. What is the first step in premium calculations?
View solution
Q. How is the gross premium calculated?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
