What Is Group Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Group Life Insurance provides protection for employees and their families in the case of death of the employee or family member. It can come in Term life, Universal life, or Whole life. The employer usually pays the first $50,000 of coverage with the employees having the option to purchase additional coverage at group rates, called Supplemental insurance. The first $50,000 of benefits are considered tax free to the employee. 
    Answered on May 11, 2013
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