Group life insurance primarily covers the risk of premature death, providing a predetermined financial payout (death benefit) to your beneficiaries if you pass away from natural or accidental causes while covered under the master plan. Depending on how the employer structures the specific group policy, optional supplemental riders may also include basic Accidental Death and Dismemberment (AD&D) coverage or short-term/long-term disability benefits, though it is not designed to build cash value.
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