Which of the following is typically a feature of group life insurance?

Group life insurance is defined by several key features, and one of the most significant is that it provides coverage for multiple individuals under a single contract. This characteristic allows employers or organizations to offer life insurance benefits to a group of people, such as employees or members, without the need for each individual to obtain their own separate policy.

This approach simplifies the administration of the policy and lowers costs, as the risk is pooled among a larger group, making it more affordable for both the employer and employees. Furthermore, because the policy covers all members under one contract, it often leads to easier enrollment processes and the potential for additional benefits, such as the ability to convert to an individual policy if a member leaves the group.

While individual policies can sometimes offer more tailored coverage and options, group life insurance is particularly valuable for providing basic life insurance protection to a larger number of people efficiently.