ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Many businesses and organisations cover the medical insurance of their employees and their families as part of HR policies. In a typical group health cover, the employer pays the premium on behalf of the employees.
Detailed explanation-2: -The biweekly pay period is the most common, followed next by weekly, then semimonthly, then monthly. Certain pay periods tend to dominate in individual industries; an example being the use of weekly pay periods by 82.4 percent of construction establishments.
Detailed explanation-3: -Employee health insurance provides hospitalization coverage including pre and posts hospitalization expenses. Some employee health insurance policies can provide reimbursements of fees of specialists and other medical practitioners for after treatment checkups.
Detailed explanation-4: -The scheme insures the employees against unforeseen accidents, illness, disability, and death. In the case of the untimely death of an employee, the benefits are paid to their nominee.