Which policy is commonly used for employee groups and typically features group underwriting with minimal insurability requirements?

Which policy is commonly used for employee groups and typically features group underwriting with minimal insurability requirements?

• A. Term Life Insurance
• B. Group Life Insurance
• C. Survivorship Life
• D. Juvenile Life Insurance

Answer: (B)

Group life insurance is set up for employee groups under a single master policy, so the insurer evaluates risk for the group as a whole rather than doing full medical underwriting on each person. This approach lets most employees enroll with minimal insurability requirements—often no medical exam or questions, at least up to a guaranteed coverage amount—making enrollment quick and affordable for both the employer and the staff. Premiums and coverage are typically administered through the employer, sometimes via payroll deductions, which simplifies the process and broadens access for the workforce. If someone wants more than the standard amount or enrolls after a late period, some evidence of insurability may apply, but the default is streamlined underwriting for the group. This setup is why group life insurance is commonly used for employee benefits. Other options serve different purposes: a term policy is usually individual and temporary, survivorship life covers two lives and is used mainly in estate planning, and juvenile life is designed for children with a savings component, not as a typical employee-group benefit.

Group life insurance is set up for employee groups under a single master policy, so the insurer evaluates risk for the group as a whole rather than doing full medical underwriting on each person. This approach lets most employees enroll with minimal insurability requirements—often no medical exam or questions, at least up to a guaranteed coverage amount—making enrollment quick and affordable for both the employer and the staff. Premiums and coverage are typically administered through the employer, sometimes via payroll deductions, which simplifies the process and broadens access for the workforce. If someone wants more than the standard amount or enrolls after a late period, some evidence of insurability may apply, but the default is streamlined underwriting for the group. This setup is why group life insurance is commonly used for employee benefits. Other options serve different purposes: a term policy is usually individual and temporary, survivorship life covers two lives and is used mainly in estate planning, and juvenile life is designed for children with a savings component, not as a typical employee-group benefit.