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Questions
What do you mean by group life insurance?
What do you understand by 'Group Insurance'?
Solution
- Group insurance is a scheme that provides insurance coverage for the lives of several people under one insurance policy or contract.
- It is generally provided to employees working for one employer.
- Group life insurance is very cheap for employees. They have to pay a very small amount of premium.
- The employer can get insurance coverage for his employees at a a low cost and thereby provide security to them.
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