tag:blogger.com,1999:blog-21933728026311487332011-04-21T13:15:39.355-07:00Kyle J. Nortonnoreply@blogger.comBlogger11100tag:blogger.com,1999:blog-2193372802631148733.post-175811560727993582008-11-16T08:00:00.000-08:002008-12-04T08:53:06.423-08:00<span style="font-weight: bold;">Our Sponsors</span><br /><a href="http://langtonlam.ltcsecrets.hop.clickbank.net/">Long Term Care Insurance Consumer Buying Guide.</a><br /><a href="http://langtonlam.insurleads.hop.clickbank.net/">Insurance Leads Generation.</a><br /><a href="http://langtonlam.tonybahu.hop.clickbank.net/">Annuities: The Shocking Secrets Revealed.</a><br /><span style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 100%;"><br /></span><br /><span style="color: rgb(0, 51, 51);font-family:verdana;" ><br />As we mentioned in previous article,</span><span style="color: rgb(0, 51, 51);"> </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >many corporations offer competitive packages, and that’s even a strategy in hiring and retaining employees. These competitive packages </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >include group insurance to plans that provide individual retirement accounts or traditional registered pension plans, etc. In this article, we will discuss the advantages and disadvantages of association group insurance plan.<br /></span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >Association group is the group of individuals or companies with similar occupations such as dentists, lawyers, medical doctors etc. </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >The association arranges group insurance for its member and individual member pays all the premiums. The master contract exists between the association and the insurer and individual member receives a certificate detailing coverage.</span><br /><span style="font-weight: bold; color: rgb(0, 51, 51);font-family:verdana;" >I. Advantages</span><br /><span style="color: rgb(0, 51, 51);font-family:verdana;" >a) </span><span style="color: rgb(0, 51, 51);font-family:verdana;font-size:100%;" >Provide more economical coverage because of mass purchase and group discounting</span><span style="color: rgb(0, 51, 51);font-family:verdana;" >.</span><br /><span style="color: rgb(0, 51, 51);font-family:verdana;" >b) Group insurance is </span><span style="color: rgb(0, 51, 51);font-family:verdana;font-size:100%;" >arranged by the Association and only requires payment to enroll.<br />c) Provide for larger amounts of life insurance</span><span style="color: rgb(0, 51, 51);font-family:verdana;" > and the </span><span style="color: rgb(0, 51, 51);font-family:verdana;font-size:100%;" >right to convert life insurance for each member in the association within 60 days of termination.</span><br /><span style="color: rgb(0, 51, 51);font-family:verdana;" >d) </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >Certificate is issued showing coverage.</span><br /><span style="color: rgb(0, 51, 0);font-family:verdana;" >e ) Coverage may be more comprehensive and premium is lower than individual insurance.</span><br /><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" ><b><br />II. Disadvantages<br /></b>a) </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >Coverage reduces in later years and premiums can be increased without notice.<br />b) The group insurance plan amendments, restrictions or termination can be effected without input of member.<br />c) Most contracts contain restrictive clauses and a two-year suicide clause.<br />d) The master policy is held by the association therefore some member may consider to opt out with </span><span style="color: rgb(0, 51, 51);font-family:Verdana;font-size:100%;" >an individual policy if they consider that is the best solution.<br />e) Contract and coverages are negotiated between association and insurance company. Member of association has to no say to it.<br /><br /></span><span style="color: rgb(0, 51, 51);font-family:verdana;" >I hope this information will help. If you need more information, you can read the complete series of the above subject at my home page:</span><br /><br /><a style="color: rgb(0, 51, 51); font-family: verdana;" class="linkification-ext" href="http://lifeanddisabitityinsuranceunderwriter.blogspot.com/" title="Linkification: http://lifeanddisabitityinsuranceunderwriter.blogspot.com/">http://lifeanddisabitityinsuranceunderwriter.blogspot.com/</a><br /><a href="http://groupinsurance02.blogspot.com/" style="font-family: verdana; color: rgb(0, 51, 51);" class="linkification-ext" title="Linkification: http://lifeinsurancexiii.blogspot.com">http://groupinsurance02.blogspot.com</a><span style="color: rgb(0, 51, 51);font-family:verdana;" ><br /><a class="linkification-ext" href="http://groupinsurance01.blogspot.com/" title="Linkification: http://lifeinsurancexiii.blogspot.com">http://groupinsurance01.blogspot.com/</a></span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/2193372802631148733-17581156072799358?l=groupinsurance10.blogspot.com' alt='' /></div>Kyle J. Nortonnoreply@blogger.com0