Group Life Insurance at Life

Group Life Insurance. Group life insurance is often provided as part of a complete employee benefit package. By offering this benefit, an insurance company will make a payment to your employees’ family members or other beneficiaries in the event of the death of an employee.

Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Group life insurance products offer benefits to a group of people. With a group life insurance policy, the insurance contract is between the group and the insurance company, and the participating group members receive certificates of coverage.

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Group life insurance is a type of life insurance in which a single contract covers an entire group of people. In nigeria, this life insurance is compulsory by law. Group life insurance policies are issued either at a very low or no cost to the employee. Group life insurance, also called group term life insurance, is one life insurance contract that covers a group of people.