Group life insurance is a type of coverage that provides financial protection for a group of individuals under a single policy. Unlike individual life insurance, group coverage typically does not require a medical examination. This type of insurance is commonly offered by employers as a part of their benefits package. In the event of a covered individual's death, the policy pays out a lump sum to their designated beneficiaries. It's important to carefully review the terms and coverage limits of a group life insurance policy to ensure it meets the needs of the individuals it covers.
