What is the Definition of Group Insurance?
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents. Coverage occurs under a master policy issued to the employer or association.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Group Insurance?
You can find random definition and meaning of insurance terms below:
Meaning of Mortality And Expense (M&E) Risk Charge in Insurance Terms
A fee that covers such annuity contract guarantees as death benefits.
Meaning of Mortgage Guarantee Insurance in Insurance Terms
Coverage for the mortgagee (usually a financial institution) in the event that a mortgage holder defaults on a loan. Also called private mortgage insurance (PMI).
Meaning of Mortgage Insurance in Insurance Terms
A form of decreasing term insurance that covers the life of a person taking out a mortgage. Death benefits provide for payment of the outstanding balance of the loan. Coverage is in decreasing term insurance, so the amount of coverage decreases as the debt decreases. A variant, mortgage unemployment insurance pays the mortgage of a policyholder who becomes involuntarily unemployed. (See Term insurance)
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