3 years ago

What general characteristics distinguish group insurance from individual insurance?

1 answer:

3 0

I believe the answer is: Group insurance is characterised by a group contract, experience rating of larger groups, and group underwriting.

The value of group insurance is usually significantly larger compared to individual insurance. But usually group insurance could only be created due to the help of government regulations (not individual will). Example of a group insurance is government's medicare.<span />

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