Florida Health Insurance Terms:
"Group Life Insurance"
What about Group Life Insurance?": Business owners in today’s competitive job market recognize the importance of attracting and keeping good employees. Providing group term life insurance is an economical way for employers to provide a quality benefit that employees value and appreciate.
Life Insurance provided for members of a group. It is most often issued to a group of employees but may be issued to any group provided it is not formed for the purpose of buying insurance. The cost is lower than for individual policies because administrative expenses per life are decreased, there are certain tax advantages, and measures taken against adverse selection are effective. See also Franchise Insurance, True Group, and the first definition of Master Policy.
More On Grace Periods: Government Group Life Insurance
Back to Resources |
Florida Health Insurance Homepage