A rating system that is used to calculate premiums for all insureds with no distinctions as to age, sex or occupation.
A rating system that is used to calculate premiums for all insureds with no distinctions as to age, sex or occupation.
Life Insurance provided for members of a group. It is most often issued to a group of employees, but may be issued to any group provided it is not formed for the purpose of buying insurance. The cost is lower than for individual policies because administrative expenses per life are decreased and measures taken against adverse selection are effective. See also Franchise Insurance and True Group.


