group insurance

/grup ɪnˌʃʊrəns/

Definitions of group insurance

1. noun

   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
   type of:

   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