Which type of life insurance policy is usually provided at no cost by an employer?

Group life insurance is typically provided at no cost by an employer as part of an employee benefits package. Employers often purchase this type of policy to offer basic life insurance coverage for their employees as an incentive for employment and to promote a supportive workplace environment. This coverage is usually guaranteed, meaning that employees do not need to undergo medical examinations to enroll, and it often covers a specified multiple of the employee's salary or a fixed amount.

In contrast, individual life insurance policies require the individual to pay the premiums themselves and are tailored to the individual's specific needs and preferences. Term life insurance can also be purchased individually and usually involves premiums paid by the policyholder for a specified term. Whole life insurance, another form of individual policy, includes higher premiums that accumulate cash value over time and is paid for by the policyholder. These policies do not typically come at no cost to the employee, as they require financial commitment from the individual for coverage.