[T055]

true group insurance
A group insurance program is one in which an entire related group of people is offered access to the same insurance coverage, normally life, health, accident, and/or disability. In a true group, coverage is offered regardless of their past medical history or current medical conditions. Because coverage is offered to an entire group, marketing and other insurer expenses are not as great, so savings are passed onto the group in the form of lower premiums. In those cases where the group insurance is being offered as an employee benefit by an employer, employers often will subsidize a portion of the premium.