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Group Annuity

 
Insurance Dictionary: Group Annuity
 

Contract providing a monthly income benefit to members of a group of employees. A group annuity has the same characteristics as an individual annuity, except that it is underwritten on a group basis. See also Annuity.

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Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more