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Glossary >R-T >Standard Industrial Classification...
 
  Standard Industrial Classification (SIC) Codes
 
These are codes used to describe or classify businesses based upon the products or services they provide. When you apply for group health insurance coverage, you may be asked to provide the SIC code for your business. This code provides the insurance company with information about the kind of work your employees are likely to perform and may be used to help determine a monthly premium.
 
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