The correct answer is: A. In group insurance, a single policy is issued covering many persons.
Group insurance is a type of insurance that is purchased by an employer or other organization for its members. The policy covers all members of the group, regardless of their individual health or risk factors. This can be a more affordable option than individual insurance, as the risk is spread out over a larger group of people.
Group insurance can be offered for a variety of benefits, including health insurance, life insurance, and disability insurance. It is often required by employers as a condition of employment.
There are several advantages to group insurance. First, it can be more affordable than individual insurance. This is because the risk is spread out over a larger group of people. Second, group insurance is often easier to qualify for than individual insurance. This is because employers typically have lower health and risk requirements for their employees than insurance companies do for individual applicants. Third, group insurance often offers more comprehensive coverage than individual insurance. This is because employers typically negotiate better rates and benefits with insurance companies than individual applicants can.
There are also some disadvantages to group insurance. First, the coverage may not be as flexible as individual insurance. This is because group insurance plans are typically designed to meet the needs of the majority of the group, rather than the specific needs of each individual member. Second, group insurance may not be portable. This means that if you leave your job, you may not be able to keep your group insurance coverage. Third, group insurance may not be as comprehensive as individual insurance. This is because group insurance plans are typically designed to meet the needs of the majority of the group, rather than the specific needs of each individual member.
Overall, group insurance can be a good option for people who are looking for affordable and comprehensive coverage. However, it is important to compare the different options available to you before you decide which type of insurance is right for you.