Final answer:
Group insurance is the term that refers to insurance written on the interests of the licensee, the licensee's employer, or the licensee's immediate family. It provides coverage to a group of people and offers lower premiums and broader coverage compared to individual insurance policies.
Step-by-step explanation:
The term that refers to insurance written on the interests of the licensee, the licensee's employer, or the licensee's immediate family is group insurance.
Group insurance is a type of insurance that provides coverage to a group of people, such as employees of a company or members of an organization. It typically offers lower premiums and broader coverage compared to individual insurance policies.