group life insurance

noun

1. a form of life insurance available to members of a group, typically employees of a company, under a master policy.

Word History and Origins

Origin of group life insurance¹

First recorded in 1925–30

Example Sentences

"Group life insurance is crucial for people with pre-existing conditions who are denied independent coverage," said certified financial planner Spenser Liszt of Motif Planning in Dallas.

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As Generation Z and millennial workers challenge the concept of a traditional career and drive an increase in freelancing, the role of workplace group life insurance in long-term financial plans is likely to change.

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Plus, basic group life insurance may be free to employees, but it often tops out at one or two times a worker’s annual salary.

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But a Chancery Court master also ruled Monday that Meredith Sullivan’s ex-husband, Luke Chapman, is entitled to keep the proceeds from her University of Delaware group life insurance policy.

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He also received insurance proceeds as the primary beneficiary on Sullivan’s group life insurance policy.

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