What does Business Life Insurance mean? Read on to discover the definition & meaning of the term Business Life Insurance - to help you better understand the language used in insurance policies.
Business Life Insurance
Business life insurance is purchased by the employer for its employees. Commonly, the beneficiary of the life insurance is the whole group. So, it is likewise known as a group life insurance policy. It is available for large organizations. By buying the insurance coverage in bulk, this type of life insurance benefits its members as they do not need to pay expensive premiums on a monthly basis compared when they buy individual policies.
We hope the you have a better understanding of the meaning of Business Life Insurance.