Group Disability Insurance provides coverage for a group of employees, offering monthly benefits if members are unable to perform their job functions due to illness or accident. Benefits are typically limited to a specified duration and capped at a percentage of pre-disability earnings or a flat dollar amount, whichever is lower.
A clause in an insurance policy providing that all policy premiums will be waived if the policyholder becomes seriously ill or disabled, either permanently or temporarily, and is therefore unable to pay the premiums.
