Group life insurance is a master-contract type of term life insurance provided by an employer, labor union, or professional organization to cover an entire pool of members under a single umbrella policy. It is categorized as a fringe benefit of employment and generally requires little to no individual medical underwriting or health exams for basic coverage tiers. It provides straightforward financial protection to beneficiaries if the insured employee passes away while actively enrolled in the plan during their tenure with the organization.
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