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From The Glossary »

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Group Life Insurance:

Life insurance issued to a group of persons with related interests. It is usually issued to an employer to cover his employees. The sum insured in respect of each employee is usually a predetermined multiple of the employee’s annual earnings. Group life insurance usually takes the form of yearly renewable term insurance with the annual premiums calculated by reference to the age of, and sum insured for, each member. A policy issued by a life insurer ...
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