Definition - What does Group Insurance mean?
Group insurance is simply a form of insurance extended to multiple people in an organization, company or group. Group insurance is offered under a definition that specifies who is covered by the group insurance policy.
One of the most common types of group insurance is the insurance that an employer offers to employees.
Justipedia explains Group Insurance
The health insurance that many employers offer their employees is a common example of group insurance. Under many group insurance policies, employees pay all or part of a premium for group insurance.
Group insurance could also refer to insurance offered to individuals joining together to form a corporation or other business venture. In this case, group insurance could protect these individuals from liabilities incurred through the operation of their business.