What Is Group Term Life Insurance? 
Term Life Insurance is temporary life insurance . It is sold for a fixed period of time -LRB- term -RRB- and so long as the premium is paid , it will continue for that period and that period only , then end . After that a new policy must be bought , frequently at a substantially higher premium . Group Term , is term coverage which is bought through a group , usually at work , but sometimes as a member of an organization . The healthy folks usually pay more and the sicker folks usually pay less , so it all evens out for the insurance company . If your health is good , you usually will get a better rate on your own . When you leave the group or work place , you will lose your group term insurance . The best insurance is permanent insurance that you personally own , not through a group . This is Whole Life . You can keep it for your lifetime as long as the premiums have been paid up . The premium never goes up and it never ends , unlike term , where 97 % of folks let it lapse , losing all the money they paid for term . You can get information on all these choices from an experience life agent . Gary Lane , Agent , New York Life . 949 797 2424 , Thank you . 