Group insurance contract

FATCA

The term group insurance contract means an insurance contract that—

(i) Provides coverage on individuals who are affiliated through an employer, trade association, labor union, or other association or group; and

(ii) Provides coverage on individuals who are affiliated through an employer, trade association, labor union, or other association or group; and

(iii) Charges a premium for each member of the group (or member of a class within the group) that is determined without regard to the individual health characteristics other than age, gender, and smoking habits of the member (or class of members) of the group.

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