group insurance

American  

noun

1. life, accident, or health insurance available to a group of persons, as the employees of a company, under a single contract, usually without regard to physical condition or age of the individuals.

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group insurance British  

noun

1. insurance relating to life, health, or accident and covering several persons, esp the employees of a firm, under a single contract at reduced premiums

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Etymology

Origin of group insurance

First recorded in 1910–15

Example Sentences

"We still expect an extension of the unilateral Saudi and Russia cuts through at least 2024Q1, and unchanged group cuts, although a deeper group insurance cut is likely on the table," the bank added.

From Reuters

In some of the states, workers in group insurance plans regulated by the state — called “fully insured” plans — also receive those protections, the analysis found.

From Scientific American

But self-funded group insurance plans, the kinds most common for large corporations, do not fall under the state’s regulatory jurisdiction and would therefore not be subject to the new bill or its copay caps.

From Seattle Times

The trend is helping revenue, he added, noting a 39% sales rise in U.S. group insurance unit in the first half.

From Reuters

But business groups say adding lots of older people to their large group insurance plans will just drive up their already skyrocketing premium costs.

From Seattle Times