Type of group permanent life insurance that has premiums based on issue age. It accumulates and builds reserves and cash surrender values.

Type of group permanent life insurance in which the employee’s contributions are used to purchase paid-up insurance. The employer’s contributions are used to purchase term insurance. The employees’ insurance coverage remains level each year. As the amount of paid-up insurance increases over time, the amount of term insurance that the employer purchases to make up the difference decreases. This type of life insurance has a cash surrender value.

Type of life insurance that builds cash value and is composed of a group. It may be used to fund a group pension plan or to provide life insurance coverage that will continue after retirement.

Individual or company in whose name a group insurance policy is written. Also called group policy owner .

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 .

Type of health maintenance organization (HMO) in which the physicians in the plan share a central facility.

Managed care plan in which members pay a monthly premium and the plan offers medical services without additional fees. For some patients, Medicare Part B pays the GPPP directly for services given to beneficiaries.