Ryhmähenkivakuutus

Ryhmähenkivakuutus is a type of life insurance policy taken out by an employer or organization for its members, such as employees, members of an association, or other groups. It provides a lump sum payment to the beneficiaries of a covered individual in the event of their death during the term of the policy.

The primary purpose of ryhmähenkivakuutus is to offer financial security to the dependents of the insured person. The coverage is typically determined by the group policy terms, which can vary significantly. Premiums are often paid by the employer or organization, though in some cases, a portion may be borne by the individual. The cost is usually lower than individual life insurance due to the group purchasing power and the pooled risk.

Eligibility for ryhmähenkivakuutus is usually tied to membership in the specific group. The sum insured can be a fixed amount for all members, or it may be calculated based on factors like salary or length of service. Unlike individual policies, group life insurance often does not require a medical examination, making it accessible to a wider range of individuals. However, coverage typically ceases if the individual leaves the group, unless there are provisions for conversion to an individual policy. The terms and conditions of ryhmähenkivakuutus are outlined in the policy documents provided by the insurance company.