- The definition of group insurance is protection against losses and damages offered to a group of people because they belong to a specific group, with an insurance premium which is the same for all members of the group.
An example of group insurance is a health insurance plan offered to all employees of a specific business.
group insurance definition by Webster's New World
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
insurance, esp. life or health insurance, available to employees or members of an organization as a group at special, low rates
group insurance definition by American Heritage Dictionary
Insurance purchased by a group of persons, such as the employees of a company, often at a reduced individual rate.