| Group
Life insurance is very
similar to individual life insurance. The primary difference is there
is usually less choice in the types of life insurance available in
group policies. However, group life insurance is easier for people
with health problems to get, much the same as group health insurance.
Group Health insurance
is similar in form to individual health insurance. The primary differences
are the conditions under which a person my apply and the requirements
for acceptance. Before applying through a group a person must satisfy
the waiting periods and employment requirements of the group. However,
once an application can be made the conditions for acceptance are
usually less strict than with an individual policy. Also, certain
protections under the law are available for members of group policies
that are not available to owners of individual plans.
Group Disability insurance
similar in form to individual disability insurance. It covers
a percentage of an insured's income upon a disabling accident or event.
The two main differences are the conditions upon which a person may
apply, and the requirements for acceptance. Before applying through
a group a person must satisfy the waiting periods and employment requirements
of the group. However, once an application can be made the conditions
for acceptance are usually less strict than with an individual policy.
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