A Single Employer Group insurance plan is administered for which group?

The correct choice indicates that a Single Employer Group insurance plan is specifically designed to cover employees and the employer's personnel. This type of insurance is established by an employer to provide health and life insurance benefits to their staff, creating a group under which these individuals can receive coverage.

This option reflects the common structure of employer-sponsored insurance where the scope of the plan extends to all employees, including eligible dependents, ensuring that a broader employee base receives necessary benefits. Single Employer Group plans are primarily aimed at creating a cohesive benefit structure that encourages employee retention and addresses the health and financial security needs of the workforce.

Other options mention different groupings of individuals that may not fall within the typical coverage offered by a Single Employer Group insurance plan. For example, shareholders may not necessarily be employees, and officers and board of directors may only represent a part of the overall employee base. Additionally, independent contractors are generally not included in employer group plans as they are not considered employees of the organization. Thus, the focus of a Single Employer Group insurance plan is accurately captured by the choice that includes employees and employer's personnel.