What is FRANCHISE INSURANCE?

A group plan for groups too small to get typical group coverage. The plan issues members an individual contract with individual underwriting and the same provisions for all. Members typically have the employer’s approval. Known also as wholesale insurance.

More On This Topic



Link to This Definition
Did you find this definition of FRANCHISE INSURANCE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary