What Is A Group Universal Life Insurance Policy? 
Group universal life is similar to individual universal life . Group policies involve the plan sponsor , often an employer , holding the master policy while the individual participants receive a certificate of insurance . It is a convenient and voluntary way to acquire cash value life insurance through the workplace . Usually the employee pays all premiums in which case all benefits would be immediately and fully vested . At employment termination portability features in these products generally allow for coverage to be taken by the participant as an individual policy . 