Examlex
All of the following statements is correct EXCEPT:
Group Insurance Plan
A type of insurance policy that covers a defined group of people, typically employees of a company, offering them benefits at a reduced cost.
Individual Insurance Plan
A health insurance policy purchased by an individual, as opposed to being provided by an employer.
Group Benefit
An advantage or favorable outcome obtained by a team or group, often in the context of workplace incentives or shared services.
Cash Balance Plan
Retirement plan in which the employer sets up an individual account for each employee and contributes a percentage of the employee's salary; the account earns interest at a predefined rate.
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