Group Life insurance is a type of coverage provided to a group of individuals, typically employees of a company or members of an organization.

It offers financial protection to the beneficiaries of the insured group in the event of the death of a covered individual. Group Life insurance policies are typically offered as a benefit by employers or organizations to their members, providing a valuable form of financial security for the insured individuals and their families. The coverage amount is usually based on a multiple of the individual’s salary or a predetermined amount. Group Life insurance provides peace of mind by ensuring that the loved ones of the insured group members will receive a lump sum benefit in the event of their passing.

It is a cost-effective way to provide life insurance coverage to a large number of individuals, making it a valuable employee benefit and a means of attracting and retaining talent within an organization.