Question

Write notes on group insurance.

Answer 1

• Group Insurance is a type of insurance that provides coverage to a group of people under a single policy, usually offered by an employer or organisation to its employees or members. This policy typically includes life insurance, health insurance, or accident cover.
• Since the insurance covers many people together, the premium is generally lower compared to individual policies. In most cases, the employer either fully pays or shares the premium cost with the employees.
• Group insurance offers financial protection in case of death, illness, or injury and is considered a valuable benefit that increases employee satisfaction, loyalty, and overall job security.