What Does Voluntary Term Life Insurance Mean? 
Voluntary term life is a group product where participation is not mandatory . An employee can choose to purchase voluntary life , usually through payroll deduction . Depending on the plan , voluntary can be a guaranteed issue or simple underwriting plan . Guaranteed Issue would just be signing up and paying the premium and Simplified Issue might involve answering a few questions . Either way , most will pay more in price for these plans . Simple rule of thumb with insurance , the fewer questions , the higher the cost . If you 're a fit person , in good shape and health , a voluntary payroll plan gives you some convenience , but not any cost savings . 