Glossary of Insurance Terms

G

Gatekeeper

A primary care physician responsible for overseeing and coordinating all aspects of a patient’s medical care. The gatekeeper may have to preauthorize other specialty care or hospital admission.

Grace period

A period of time after a premium becomes due in which you can still pay for the insurance and keep it in force. Wisconsin law requires that for health insurance it is 7 days for weekly premium policies, 10 days for monthly premium policies, and one month for all other policies.

Grievance

Any written statement of dissatisfaction with a managed care plan or limited service health organization submitted by or on behalf of a plan enrollee.

Group insurance

Any insurance plan under which a number of persons and their dependents are insured under a single policy, issued to their employer or an association with which they are affiliated, with individual certificates given to each insured person.

Group life insurance

Life insurance provided for members of a group. It is most often issued to a group of employees but may be issued to any group provided it is not formed for the purpose of buying insurance. The cost is lower than for individual policies because administrative expenses per life are decreased, there are certain tax advantages, and measures taken against adverse selection are effective.

Guaranteed issue policy

A policy of insurance that will be issued regardless of health condition. Small group and individual policies cannot be denied to any person who wishes to purchase one.