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