The fundamental purpose of any type of insurance is to replace or compensate economic loss in contingencies. Group Insurance provides insurance protection to a number of individuals as a class or group under a single contract. Here in this part of the world, the insurance contract is negotiated between the employer and the insurance company.
Group Insurance prevents an employee's family from being abruptly cut off without funds. It provides sense of security, freedom from worry and anxiety to the employees. Group Insurance develops better morale and added loyalty of employees to the employer. Group Insurance provides satisfaction and peace of mind to the employer by discharging his obligation in a number of forms and businesslike manner.
For the purpose of underwriting a Group case and determining the premium rates, the following information is required by our company: