Group Life Insurance
Employers often provide life insurance to their employees by using a group plan that offers Term Life Insurance to all full time employees. This may be a benefit that is flat dollar amount that is the same for all employees or by category of employees, or it may be a multiple of earnings so that the benefit amount may vary but the percentage is the same for all employees or category of employees.
Group Life Insurance usually requires very little underwriting, making it much easier to secure than individual life insurance. The larger the group, usually the easier the underwriting for this coverage.
Generally group life insurance allows the employee to keep the coverage should the employee leave the employer's place of business. The rates for the coverage may change once the employee leaves, however the fact that the employee has the coverage and can retain it, even if they are in poor health, is quite valuable.