A Coggle Diagram about Features (Usually simpler than individual risk policies to enable bulk administration., Limited scope for customisation and choice by group lives. Options will be presented at inception and following major changes in circumstances., Premiums and benefits expressed as % of salary. Benefit capped at a level., High cover individuals will be examined medically. Those below free cover limits are not subject to exams., Pre-existing conditions excluded for new joiners., Premiums based on group experience and fixed for the next year. More cross subsidisation than individual policies., Total admin effort is less than for comparable number of individual risk policies, Continuation Assurance Option for group leavers. Benefits will remain similar. Option provided for limited period. and Employer could potentially share in UW profits with insurer), Risks (relative to individual products), IP (Disability definitions based on inability to perform own occupation <=2 years. The one's own or a suitable alternative occupation., Waiting period = Sick leave (no benefit overlap), Cover limit. Monthly income 100% of pensionable salary <=2 years then 75% and Pension fund contributions continues to be paid from disability benefit.), Types (Risk and Retirement (employee benefits)), Tax (Approved scheme = Retirement funding element. Then premiums are tax deductible but benefits are taxed. Approved can only cover the employee and not family. and Unapproved = Risk premiums are paid from employee's taxable income and benefits are tax free. Schemes with risk benefits only are always unapproved.) and Group = Group of company employees but any group can be covered that has a particular relationship in common that is stronger than their need for insurance. An insurable interest is required between the PH and the group of lives insured.