Group insurance

a master group insurance contract

The parties to a master group insurance contract are the insurance company and the grouppolicyholder,

which is the entity that decide what types of group insurance coverage to purchase for the group members,

negotiates the terms of the group insurance contract with the insurer, and purchases the group insurance

coverage.

USA: Group insred

Canada: Group life insured

noncontributory plan: if insured group member are not required to pay any part of the group insurance

contributory plan: otherwise

Mutually agree to the contract's terms  Both have contractual capacity  Exchange legally adequate consideration  Form the contract for a lawful purposeinsurance interestnot required

Certificates of Insurance: 1)the coverage that the group insurance contract provides 2)the group

insured's rights under the contract.  ==>> certificate holder 

the benefit booklet ==>> group insurance certificate.

Eligibility Provisions

activity-at-work provision

probationary period  ==>> reduce a plan's administrative costs

eligibility period (enrollment period)  open enrollment period

coverage both for eligible group members and the dependents of covered group members.

insured group members