Group Life Insurance

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Life insurance coverage that is provided to a group of individuals, usually through an employer-sponsored benefit plan. Group coverage is not traditionally underwritten, and instead is typically offered on a community rating system. Coverage is also typically restricted to term life insurance, or universal life insurance. Group policies tend to have lower premiums than individual policies, but coverage is terminated if or when the employee leaves the group (i.e. when the employee leaves their job or is terminated).

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