Group insurance

Group insurance is an insurance that covers a group of people, usually who are the members of societies, employees of a common employer, or professionals in a common group.

Group insurance may or may not be converted to individual coverage. As group insurance gets big business for an insurance company with minimum operational expenses (under one master policy issued to an employer, union or any recognised group), it is usually less expensive than individual policies.


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  • group insurance — Insurance coverage for a group, which can usually be obtained at a cheaper rate than insurance for an individual. Bloomberg Financial Dictionary * * * group insurance group insurance ➔ insurance * * * group insurance UK US noun [U] INSURANCE ►… …   Financial and business terms

  • group insurance — n: insurance issued upon a group of persons under a single or blanket insurance policy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. group insurance …   Law dictionary

  • group insurance — ☆ group insurance n. insurance, esp. life or health insurance, available to employees or members of an organization as a group at special, low rates …   English World dictionary

  • group insurance — life, accident, or health insurance available to a group of persons, as the employees of a company, under a single contract, usually without regard to physical condition or age of the individuals. [1910 15] * * *       insurance provided to… …   Universalium

  • group insurance — noun insurance that is purchased by a group (such as the employees of a company) usually at a reduced rate to individual members of the group • Hypernyms: ↑insurance * * * noun : insurance issued upon a group of persons under a single or blanket… …   Useful english dictionary

  • group insurance — group′ insur ance n. bus life, accident, or health insurance available to a group of persons, as the employees of a company, under a single contract • Etymology: 1910–15 …   From formal English to slang

  • group insurance — low cost insurance which covers a group of people (rather than individuals) …   English contemporary dictionary

  • group insurance — A contract providing life, accident or health insurance for the members of a defined group of persons, usually the employees of a business or industry, or of such part of them as desire to participate and are eligible under the arrangement or… …   Ballentine's law dictionary

  • insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or …   Law dictionary

  • Group — can refer to: Sociology * Group action (sociology) * Group behaviour * Groups of people, a description of various different human groups ** Peer group ** Workgroup * Group dynamics * Group (sociology), a sub set of a culture or of a society *… …   Wikipedia

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