Group Life Insurance can be purchased by companies, associations, unions, and other entities that have an insurable group. The insured individuals must have a connection with the policyholder (the contracting company or entity), such as an employment or membership relationship.

Basic coverage usually includes:

• Death (natural and accidental)
• Permanent total or partial disability due to accident
• Disability due to illness
• Funeral assistance
• Financial support (such as basic food basket, severance pay, and childbirth allowance)

Additionally, optional coverages can be added, such as daily benefits for temporary disability and medical expenses due to accidents.

Generally, medical exams are not required to join group life insurance. However, in some cases, a Personal Health Declaration (PHD) form may be requested to assess risk before accepting the insured.

The payment can be:

• Contributory: The insured (employee/member) contributes with part or the full amount.
• Non-contributory: The company or entity pays 100% of the premium. The company (policyholder) is responsible for forwarding the payment to the insurer.

No. This type of insurance does not work as an investment. If the insured leaves the company or the policy is canceled, they do not receive back the amounts paid. However, some insurers offer the option to migrate to an individual life insurance plan.