(01) Insurance covering the members of a group such as the employees of a single employer. The benefits are not tailor-made to the needs of each member. If the group is acceptable to the Insurer, all members are covered. (02) Any insurance plan under which a number of persons and their dependents are insured under a single policy, issued to their employer or to an association with which they are affiliated, with individual certificates given to each insured person
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UK: Insurance of a number of persons under a single contract or, if agreed, under individual contracts. Usually the persons are in the same employment or all employed or members of the same association. Group cover can be applied to various kinds of insurance, e.g. group life, group accident, group legal expenses, etc.
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US: Insurance written on a number of people under a single master policy, issued to their employer or to an association with which they are affiliated.
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Policy protecting a group of persons—usually employees of a firm.
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MEDICAL,USA,REFERENCE: See: Group Health Plan.