[G041]

group insurance

1) Insuring a number of persons under a single master contract. The persons have a common sponsor, such as an employer, a union or an association.

2) "True" group insurance precludes individual underwriting by the insurer, requires the employer to insure all employees if the employer pays any portion of the premium, and allows employees the option of participating in any coverage for which the employees must pay.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100