Group Term Life insurance Law and Legal Definition
Group term life insurance is a type of life insurance that is offered at a group rate, usually as part of an employee benefit program. It is the least expensive and least complicated type of life insurance, and is designed to provide cash benefits. The main advantage of group term life insurance is that the cost of group coverage is less when compared to an individual insurance policy. Group term life insurance provides cash benefits to the survivors of the insured in the event of his/her death by providing both funeral and continuing household expenses.
Legal Definition list
- Group Term Life
- Group Practice Unit or Organization [Banks & Banking]
- Group Practice Facility [Banks & Banking]
- Group Officially Affiliated with the Boy Scouts [Education]
- Group Officially Affiliated with any Other Title 36 Youth Group [Education]
- Group Term Life insurance
- Group Treatment
- Grouping-of-Contacts Theory
- Groupthink
- Groupware
- Grower
Related Legal Terms
- 361st ISR Group
- 5-Percent Group
- Abuse in Later Life Program [Department of Justice]
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
