Individual insurance normally means individual medical insurance. It gives people protection against his or her own losses.

Group insurance is an insurance that covers a group of people, for example the members of a society or professional association, or the employees of a particular employer for the purpose of taking insurance. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance, which might be because they are a worse than average risk. Grouping individuals together allows insurance companies to give lower rates to companies. Group insurance may offer life insurance, health insurance, and some other types of personal insurance.

Group Life Insurance

It provides coverage on the loss of life caused by anything from sickness or accidents. The insurer pays the insured amount to the beneficiaries of the employee as specified.

Group Accident Insurance

Providing coverage on the loss of life from accidents. There may also be compensatory money for medical treatments as a result of an accident or an injuries requiring hospitalization.

Group Total Permanent Disability Insurance

Providing coverage in the case where the insured is totally or permanently disable from sickness or an accident which the insurer will provide coverage when the person becomes totally and permanently disable continuously for a period of not less than 180 days from the date of the occurrence of the incident.

The group insurance has many advantages for both employers and employees. For employers, good welfare creates good image to organization. Group insurance also has low cost and tax benefits. For employees, they will receive reduced expense burden and better life quality.

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