group insurance

noun
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.

Origin:
1910–15

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
group insurance
 
n
chiefly (US), (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

Collins English Dictionary - Complete & Unabridged 10th Edition
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Encyclopedia Britannica
Encyclopedia

group insurance

insurance provided to members of a formal group such as employees of a firm or members of an association. Group insurance is distinguished from individual insurance in which single policies are sold to one person at a time and from social insurance (e.g., unemployment insurance, social security), which is sponsored by the government.

Learn more about group insurance with a free trial on Britannica.com.

Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
They're based on employer-provided group insurance rates, not individual rates.
Withholding of group insurance premium from retirement benefit.
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