Group-insurance meaning

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.

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Insurance purchased by a group of persons, such as the employees of a company, often at a reduced individual rate.
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Insurance, esp. life or health insurance, available to employees or members of an organization as a group at special, low rates.
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