Florida Life and Health Insurance License Practice Test 2026 - Free Insurance Practice Questions and Study Guide

Group life insurance is characterized by its ability to cover a group of individuals under a single policy, usually provided through employers or organizations. This type of insurance is designed to offer life coverage to a number of people, often at a lower cost per member compared to individual policies. The convenience and cost-effectiveness of group life insurance are significant benefits, as the group, rather than individuals, is insured as a whole.

When considering the other options: covering only high-risk individuals does not accurately describe group life insurance, as it typically includes individuals of varying risk levels within a group. Additionally, while group life insurance can be offered by private insurers, it is not limited to them; it can be part of employer benefits provided under various scenarios. Lastly, individual applications are generally not required for each member in group life insurance, which helps streamline the process of obtaining coverage. Instead, a master policy is issued to the organization or employer, simplifying the onboarding of members.