Group life insurance

Submitted by frndzzz on Thu, 04/08/2021 - 05:24

What does group life insurance mean?

In simple words, group life insurance means a single insurance policy that covers a group of people. Generally, the owner or the employer of the company uses group life insurance to cover the employees of the company. Group life insurance covers the members or the employees of that group.  If unfortunately, the member dies then the death benefits are given to the beneficiaries assigned by that member. Group of people is protected by this group insurance, this type of policy is usually used by employer, societies, associations to secure the life of their family.