group life insurance

American  

noun

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

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Etymology

Origin of group life insurance

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.

From Reuters

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.

From Seattle Times

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.

From Seattle Times

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.

From Washington Times

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

From Washington Times