group life insurance

group life insurance
Life insurance available through an employer or association that covers participating employees and members under one master insurance policy. Most group life insurance policies are term insurance policies, that terminate when the member or employee reaches a certain age or leaves the organization and do not accumulate any cash surrender value.
Category: Wills, Trusts & Estates → Getting Your Affairs in Order

Nolo’s Plain-English Law Dictionary. . 2009.

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  • Group Life Insurance — Life insurance offered by an employer or large scale entity (i.e. association or labor organization) to its workers or members. Group life insurance is typically offered as a piece of a larger employer or membership benefit package. By purchasing …   Investment dictionary

  • group life insurance — noun : insurance upon the lives of a number of persons under a blanket policy without medical examination and at low cost * * * a form of life insurance available to members of a group, typically employees of a company, under a master policy.… …   Useful english dictionary

  • group life insurance — a form of life insurance available to members of a group, typically employees of a company, under a master policy. Also called group life. [1925 30] * * * …   Universalium

  • Servicemembers' Group Life Insurance — (SGLI) is a life insurance available to all active duty members of the uniformed services of the United States. Managed by the United States Department of Veterans Affairs, it is heavily subsidized by the federal government.It is available to… …   Wikipedia

  • Veterans Group Life Insurance - VGLI — A policy that pays cash to the beneficiaries of a deceased member of the armed forces who had completed his or her service. Veterans Group Life Insurance (VGLI) is for service members who have completed their service and wish to continue to have… …   Investment dictionary

  • Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… …   Wikipedia

  • Life insurance in India — Life Insurance is the fastest growing sector in India since 2000 as Government allowed Private players and FDI up to 26%. Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life… …   Wikipedia

  • Wholesale Life Insurance — A type of employer sponsored protection against the loss of income in the event the insured becomes deceased. Wholesale life insurance is a variation on group life insurance that is offered by employers. It differs from group life insurance in… …   Investment dictionary

  • wholesale life insurance — noun Etymology: wholesale (II) + life insurance : life insurance covering a smaller group of employees than the minimum required for a group life insurance policy …   Useful english dictionary

  • Life Insurance Corporation of India — Infobox Company company name = Life Insurance Corporation of India company company type = Government owned corporation foundation = September 1, 1956 location = Headquarters in Mumbai, India (Various other locations in India and abroad) key… …   Wikipedia

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