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Why is group insurance generally less exspensive than individual policies?
Wiki User
∙ 13y ago
Becuase the risk (paying for serious illness treatments) to the insurance company is spread out over a larger pool of individuals.
Wiki User
∙ 13y ago
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How do individual health insurance and group health insurance policies differ?
Individual health insurance policies are purchased by individuals or families, while group health insurance policies are purchased by corporations. Group policies are generally cheaper on a per-capita basis than are individual policies.
What do you call the person who sells insurance policies?
This individual is called an Agent or Insurance broker
Does Humana Health Insurance sell individual policies?
Humana Health insurance does sell individual policies that you can purchase for yourself and family. You provide the company with your information and they will give you a quote based on multiple factors.
What discounts does Nationwide Mutual Insurance Company offer to their homeowners insurance policy holders?
If homeowners bundle their insurance polices they can receive up to a 15% discount on all policies that are current. For individual policies for homeowners insurance, there is a discount for every year that an individual is claim-free.
Does homeowners insurance cover fire or theft?
Most homeowner's insurance policies will cover fire and theft. Individual companies and policies will vary, so be sure you check with your insurance agent to verify if yours does.
In what class of life insurance are individual life insurance policies issued to members of a group with an employer or other body collecting or remitting the premiums to the insurer?
"In what class of life insurance are individual life insurance policies issued to members of a group with an employer or other body collecting or remitting the premiums to the insurer?"
Can you collect insurance benefits if your spouse commits suicide?
Generally, insurance policies exclude suicide. Check with your insurance company, as they are all different.
What are the various types of life insurance policies?
Generally there are 3 types of of life insurance policies:Whole Life InsuranceTerm Life InsuranceUniversal Life Insurance
How good is joint life insurance, and how much is it?
Joint life insurance basically insures two people with one policy. Joint life insurance policies exercise more leniency, making it easier to get life insurance. Premiums are also usually lower than if you were to buy two separate policies.
What is the meaning of SRCC by insurance?
The reference to SRCC in an insurance policy is generally taken to mean "Strike, Riot or Civil Commotion". It is a fairly standard exclusion (non-covered occurrence) in many insurance policies, including health policies.
What is the benefit of family medical insurance above individual medical insurance?
The benefit of family medical insurance above individual medical insurance, is that your premiums are much lower and the whole family is covered, instead of having to take out separate policies for everyone.
Is individual insurance afforable?
Some insurance policies come with high monthly premiums, which can be a financial burden to pay. By performing some comparison shopping it should be possible to find some lower-cost options for individual insurance.
