A master contract and certificate of coverage can be found in which type of policy?

In insurance terminology, a master contract and certificate of coverage are integral components of group insurance policies. A master contract is a single, comprehensive document held by the policyholder, typically an employer or organization, which outlines the overall terms and conditions of the group's insurance coverage. This contract provides the framework for the insurance provided to all members under the group policy.

In contrast, the certificate of coverage serves as a personal document for each individual member of the group, detailing the specific coverage they have under the group plan, including benefits, limitations, and other essential information. This structure allows for a streamlined process where many individuals can receive coverage under a single policy, thereby simplifying administration and often resulting in lower premiums.

Individual, short-term, and catastrophic policies do not utilize a master contract or certificate of coverage in the same way. Individual policies are tailored to one person, and while they come with a policy document, they do not involve a group dynamic that requires a master contract. Short-term policies and catastrophic policies also focus on providing coverage for specific periods or types of events rather than encompassing the broader group coverage noted in the context of a master contract.