Group Life Insurance

Group life insurance is a type of life insurance policy that covers a group of people—typically employees of a company or members of an organization—under a single contract. It is often offered as an employee benefit, can be inexpensive or free to participants, and typically provides a death benefit to beneficiaries if the insured dies while covered by the policy. Most group policies are term life insurance, offering basic coverage with little or no medical underwriting required; coverage usually ends if the individual leaves the group, though it may sometimes be converted to an individual policy.