In group insurance: (select one or more)a.Each individual gets a policyb.Risk is spread on the whole group, hence lower risk and accordingly lower premiumc.Only members who belong to the group and actively at work are covered
Question
In group insurance: (select one or more)a.Each individual gets a policyb.Risk is spread on the whole group, hence lower risk and accordingly lower premiumc.Only members who belong to the group and actively at work are covered
Solution
b. Risk is spread on the whole group, hence lower risk and accordingly lower premium c. Only members who belong to the group and actively at work are covered
In group insurance, each individual does not get a separate policy. Instead, the group as a whole is under one policy. The risk is spread across the entire group, which can result in lower premiums because the risk is not as concentrated as it would be with individual policies. Additionally, coverage is typically only provided to members who are actively part of the group and at work.
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