Group Life Insurance: An Overview
What is Group Life Insurance?
Group life insurance is a type of life insurance policy offered to a group of people, typically employees of a company or members of an organization. Unlike individual life insurance, a single policy covers all members of the group, with the employer or organization usually serving as the policyholder.
The policy provides financial protection to beneficiaries in the event of the death of a group member, ensuring that dependents receive a lump-sum payment or financial support.
Key Features
Coverage for Multiple Members: One policy covers all eligible employees or members.
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