Traditionally group insurance can be defined in two ways, voluntary or compulsory.

If the size of the group is large enough, a voluntary group may receive some premium discount and underwriting concessions. The real savings however for a group are in a compulsory scheme.

Where the take-up rate for a company is over 90%, and the premiums are either partially or fully subsidised by the employer, the benefits of a group medical scheme become clearly apparent. In addition toa significant premium discount, Insurance companies are able to provideautomatic acceptance of all pre-existing conditions for members. No underwriting is required. This in reality means for the client or lives assuredNO health questions.

The offer of automatic acceptance of pre-existing conditions may also be extended to the spouse / partner of the employee and their children.

This unique feature means full cover for each life assured from the date the policy commences. No wait or stand down period applies and cover is provided for all conditions covered by the policy including pre-existing conditions and required treatment.

For an employer this provision also avoids the unfortunate result of having some employees declined due to deteriorating health.