As part of a benefits package, many employers offer group life insurance to their workers. While it’s typically a low-cost and valuable part of your family’s financial protection, it may not cover all your needs.
A voluntary or individual life insurance policy can be tailored to meet your needs. But is one really better than the other?
Group Life Insurance Policies
Group life insurance is when a contract covers an entire group of people. Typically, the policyholder is the employer, and it covers their employees. The employer, not the employee, owns the policy, and the employee is issued a certificate of coverage.
Anne Johnson
Author
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
