Legal Definition and Related Resources of Group Insurance

A form of assurance whereby a body of persons, usually employees are in consideration of a flat periodical premium based on average age and paid either by employees in whole or partially by employer and employee, are insured in a definite sum. See Ohrel v Continental Cas. Co., 350 A.2d 310, 138 N.J. Super. 170. It is a coverage of a number of persons by means of a single or blanket policy. McFarland v Businessmen’s Assurance Co. of America, 124 S.E.2d432, 105 Ga.App. 209. Such a blanket or single policy enables the insurer to sell its services at lower premium than ordinarily obtainable for the same type of insurance protection. See Land v West- coast Life Ins. Co., 201 Or. 397, 270 P.2d 154.

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Group Insurance in Historical Law

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