Final answer:
XYZ Corp was issued a group accident and health policy for its employees, which is true (Option 1).
Step-by-step explanation:
Group accident and health policies are often provided by employers like XYZ Corp to cover their employees against medical expenses resulting from accidents or illnesses. These policies typically offer broader coverage at lower costs compared to individual plans. By pooling employees together, insurance companies can negotiate better rates and offer comprehensive coverage that includes hospitalization, surgeries, doctor visits, and sometimes even dental and vision care.
For employees, these policies alleviate the financial burden of unexpected medical expenses, promoting a sense of security and well-being. Additionally, group policies usually don’t require individual underwriting, making them easily accessible to all employees, regardless of their health history or pre-existing conditions.
These plans not only serve as a valuable employee benefit but also contribute to a healthier and more motivated workforce, benefiting both the company and its employees.
Correct Answer: 1) True