group-insurance

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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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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