(19)Policy of insurance.policy of insurance includes(a)any instrument by which one person, in consideration of a premium, engages to indemnify another against loss, damage or liability arising from an unknown or contingent event;(b)a life-policy, and any policy insuring any person against accident or sickness, and any other personal insurance; [*] [The word "and" and sub-Clause (c) omitted by Act 5 of 1906, Section 2.][* * *] [The word "and" and sub-Clause (c) omitted by Act 5 of 1906, Section 2.][(19-A) Policy of group insurance [Inserted by Act 43 of 1955, Section 4 (w.e.f. 1.4.1956).].policy of group insurance means any instrument covering not less than fifty or such smaller number as the Central Government may approve, either generally or with reference to any particular case, by which an insurer, in consideration of a premium paid by an employer or by an employer and his employees jointly, engages to cover, with or without medical examination and for the sole benefit of persons other than the employer, the lives of all the employees or of any class of them, determined by conditions pertaining to the employment, for amounts of insurance based upon a plan which precludes individual selection;]
