International Styles

Group Insurance

By Ralph H. Blanchard

Group insurance, in its typical form, insures the lives of a group of employees under a blanket policy, at a reduced rate of premium, and without individual medical examination. The earliest known application of this plan was the writing of a group policy by the first chartered American life-insurance company on seven hundred coolies during their transportation from China to Panama. Present-day group insurance, however, is still in the earliest stages of its development, the New York Insurance Department having issued its first approval of a policy form in February, 1911. Group business is at present written by only a small number of companies, but it is probable that its volume will increase very considerably in the near future.1 Since this form of insurance is somewhat experimental in nature and in no sense standardized, any definition or description must be qualified in its application to particular cases. In the following pages are pointed out the essential principles of this type of insurance ; the practical working out of these principles will vary from one company to another.

Sections in Chapter 23.

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