Life Insurance Basics
What is group term life insurance?
Group term life insurance is term life insurance provided through an employer or association. It is typically free or low cost for employees. Coverage is usually 1-2x annual salary. Group term life insurance is not portable — you lose it when you leave the job. Individual life insurance supplements group coverage.
Key Points
- Group term: provided through employer or association
- Typically free or low cost for employees
- Coverage: usually 1-2x annual salary
- Not portable: you lose it when you leave the job
- Individual life insurance supplements group coverage