Group Life Insurance

Filed Under » , ,
Dictionary Says

Definition of 'Group Life Insurance'

Life insurance offered by an employer or large-scale entity (i.e. association or labor organization) to its workers or members. Group life insurance is typically offered as a piece of a larger employer or membership benefit package. 

By purchasing coverage through a provider on a "wholesale" basis for its members, the coverage costs each individual worker/member much less than if they had to purchase an individual policy. Those receiving coverage may not have to pay anything "out of pocket" for policy benefits or they may elect to have their portion of the premium payment deducted from their paycheck. 

Investopedia Says

Investopedia explains 'Group Life Insurance'

The employer or organization purchasing the policy for its workers or members retains the master contract. People who elect coverage through the group policy receive a "certificate of credible coverage," which will be necessary to provide to a subsequent insurance company in the event that the individual leaves the company or organization and terminates their coverage.

Video Definition

Search results for

'Group Life Insurance'

  • 5 Life Insurance Questions You Should Ask

    http://www.investopedia.com/articles/pf/08/term_life.asp
    ... or individual. Group - Most companies offer their employees some form of
    term life insurance as an employee benefit. This is called ...

  • Can I Get Life Insurance?

    http://www.investopedia.com/articles/pf/08/get-life-insurance.asp
    ... Some alumni associations and professional organizations also offer life
    insurance on a group basis without requiring a physical. ...

  • The History Of Insurance In America

    http://www.investopedia.com/articles/financial-theory/08/american-insurance.asp
    ... World War II brought a wage freeze and companies, desperate to attract the workers
    still in the country, started offering group life and health insurance. ...

  • Is Insurance Underwriting Right For You?

    http://www.investopedia.com/articles/financialcareers/08/insurance-underwriting.asp
    ... underwriters.) Insurance companies may also provide above-average benefits such
    as retirement plans and, of course, excellent group life and health insurance. ...

  • Estate Planning: Life Insurance In Estate Planning | Investopedia

    http://www.investopedia.com/university/estate-planning/estate-planning10.asp
    ... Life Insurance.) Types of Insurance First-to-Die Life Insurance Policy Also known
    as joint whole life insurance, this is a group insurance policy where ...

  • CFP Study Guide - Principles of Risk and Insurance - The Risk ...

    http://www.investopedia.com/exam-guide/cfp/principles-of-risk-and-insurance/cfp2.asp
    ... 18. Group Life Insurance: 18.1 Introduction; 18.2 Group Life Insurance:
    Eligibility; 18.3 Group Life Insurance: Common features; 18.4 ...

  • CFP Study Guide - Property, Casualty and Liability Insurance ...

    http://www.investopedia.com/exam-guide/cfp/property-casualty-liability-insurance/default.asp
    ... 18. Group Life Insurance: 18.1 Introduction; 18.2 Group Life Insurance:
    Eligibility; 18.3 Group Life Insurance: Common features; 18.4 ...

  • CFP Study Guide - Principles of Risk and Insurance - Introduction ...

    http://www.investopedia.com/exam-guide/cfp/principles-of-risk-and-insurance/default.asp
    ... 18. Group Life Insurance: 18.1 Introduction; 18.2 Group Life Insurance:
    Eligibility; 18.3 Group Life Insurance: Common features; 18.4 ...

  • CFP Study Guide - Property, Casualty and Liability Insurance ...

    http://www.investopedia.com/exam-guide/cfp/property-casualty-liability-insurance/cfp4.asp
    ... 18. Group Life Insurance: 18.1 Introduction; 18.2 Group Life Insurance:
    Eligibility; 18.3 Group Life Insurance: Common features; 18.4 ...

  • IPO Season Kicks Off

    http://stocks.investopedia.com/stock-analysis/2010/IPO-Season-Kicks-Off-SYA0108.aspx
    ... The company was originally called Safeco Life and Investments, and was purchased
    from Safeco Insurance in 2004 by an investment group of public and private ...

Related Articles

Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.46%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.59% 4.60%
$30K Home Equity Loan 5.74% 5.77%
$50K Home Equity Loan 5.45% 5.50%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.46%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.80% 3.80%
15 Year Fixed 3.09% 3.11%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.65% 2.69%
3/1 ARM 2.69% 2.69%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.34% 4.36%
36 Month New Car Loan 3.11% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links