Group life insurance through work

Summary: Group life insurance is an easy way to get life insurance with no medical exam, and it’s offered by many employers. There’s no exam or application for group life, and you can’t be turned down. It’s also usually a very inexpensive way to buy life insurance.

What to know: Amounts can be very limited, and might be only equal to one year of salary. Some employers offer the option to buy supplemental group life. This typically requires an application but is also an inexpensive way to buy life insurance. The downside is that you lose the coverage if you leave the job.