What Does Group Life Insurance Cover? 
Most group life insurance policies are small term life policies that renew annually after a risk review by the carrier . The younger and healthier the company employees the better the rates . Most employers pay the premiums for the employee and it becomes a `` free benefit '' for the employee . The employer holds the master policy and the employees each have a certificate of insurance . Ranges can vary from $ 10,000 to up to five times a person 's income . Most group life insurance policies expire when the employee terminates employment for whatever reason . It is always advisable to have your own personal life insurance along with a group life plan to protect your insurability . 