Page 56 - M1_Insurance Introduction Notes
P. 56
- Transportation of dead body etc.
6. Group insurance
In group insurance, schemes are offered by insurance
companies to provide certain classes of individuals, the
benefit of insurance coverage at moderate cost.
Groups consist of persons who assemble together with
a commonality of purpose or engaging in a common
activity.
Examples of groups are employees of an organization,
depositors, account holders or borrowers of a bank,
members of a professional group or association etc.
Group policies can be issued for the above groups.
Group policies could be group life insurance policies,
group health policies or group non-life policies.
56
