What is a Group Life Insurance Plan?

Group life insurance is life Insurance coverage 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 life insurance.

The cost of group coverage per member is lower than for individual life insurance policies because administrative expenses per life are decreased, there are certain tax advantages, and measures taken against adverse selection are effective.

Learn more about group life insurance.