All of the following statements about the characteristics of group insurance are true EXCEPT The actual...

All of the following statements about the characteristics of group insurance are true EXCEPT

The actual experience of a group may be a factor in determining the premium that is charged.

Individual evidence of insurability is usually required.

Many persons are covered under a single contract.

The cost of group insurance is generally lower than the cost of individual insurance.

Solutions

Expert Solution

In a group insurance - individual evidence of insurability is usually not required as it its covered for a group of people such as members of professional asscoiation, or members of society and gmployees of a organisation.

All other options given in the question are characterstcis of group insurance.

Answer is Individual evidence of insurability is usually required.

jeff jeffy answered 1 year ago

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