Does Group Life Insurance Have A Cash Value?
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63333 POINTSview profilePeggy MaceMost of the U.S.Group Life Insurance may have a cash value if it is Whole Life or Universal Life insurance. If the group coverage is Term life, there will not be any cash value accumulation. Contact your human resources department to find out what kind of policy your company carries, and if permanent, request an in force illustration to see if there is any cash value accumulation.Answered on July 22, 2013flag this answer
220 POINTSview profileTimothy HiderFounder, Momentum Risk Transfer, Garden City, NYIt depends on the contract with your employer. Sometimes employers offer group life insurance with cash value build up; Universal Life or Variable Universal Life. Generally speaking most employers only offer group term life insurance. Something is better than nothing. Having group life insurance with cash value can be a nice benefit for employees looking for tax deferral alternatives to 401(k) plans.Answered on July 22, 2013flag this answer
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