What does 'group master policy' refer to in insurance?

The term 'group master policy' refers specifically to a type of insurance arrangement where a single policy is issued to an organization, like an employer or association, which then provides coverage to a group of individuals under that policy. This is commonly used in instances like employee benefits packages, where employees are covered under the same insurance plan without needing to purchase individual policies. The advantages of a group master policy often include lower premiums and more comprehensive coverage options because of the pooling of risk among a larger group of insured individuals.

This terminology distinguishes it from individual policies that cover specific persons or families, which would not fall under the definition of a 'group master policy.' Therefore, the focus should be on the collective coverage provided rather than individual circumstances or discounts typically associated with personal insurance plans.