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group insurance

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.02 sec.
group insurance
n.
Insurance purchased by a group of persons, such as the employees of a company, often at a reduced individual rate.
group insurance
n
(Business / Insurance) Chiefly US and Canadian insurance relating to life, health, or accident and covering several persons, esp the employees of a firm, under a single contract at reduced premiums
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.group insurance - insurance that is purchased by a group (such as the employees of a company) usually at a reduced rate to individual members of the group
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company


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For several years, I've advised readers to get non-employment-based group insurance for major medical, catastrophic, and excess medical expense needs, in addition to any employer-based plans they might have.
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