Group Life Insurance Versus Individual Life Insurance

Andrey_Popov/ShutterstockAs part of a benefits package, many employers offer group life insurance to their workers. While it’s typically a low-cost and valuable part of your family’s financial protection, it may not cover all your needs.A voluntary or individual life insurance policy can be tailored to meet your needs. But is one really better than the other?Group Life Insurance PoliciesGroup life insurance is when a contract covers an entire group of people. Typically, the policyholder is the employer, and it covers their employees. The employer, not the employee, owns the policy, and the employee is issued a certificate of coverage.