Group practice

Three or more providers that share facilities, office personnel, expenses, equipment, financial and medical records, and income in a medical practice. A group practice may represent a partnership, but not necessarily, a single specialty, or a range of specialties (i.e., multispecialty group practice). Also called group medicine or medical group practice .

Group representative

Salaried employee of the insurance company who assists insurance agents and brokers in acquiring, soliciting, and negotiating with potential buyers for group insurance and to service group contracts. The representative also renegotiates renewal policies.

Group sponsor

Individual or professional association that acts as an agent for the group and its members. It pays the dues and service charges to a health insurance plan and agrees to receive the plan’s certificate and information.

group universal life (GUL) insurance

Type of group life insurance policy that has flexible premiums, adjustable protection, not fixed, and it has investment earnings that allows for some tax benefits. The death benefit is established by the amount of the premium. In this type of policy, the insured can vary the premium and death benefit amounts during the life of the policy. A group member that leaves the group can continue coverage under the group plan. Also called group universal life program (GULP) .