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What type of life insurance is most commonly used for group plans?

1) Term life insurance
2) Whole life insurance
3) Universal life insurance
4) Variable life insurance

User Warpech
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1 Answer

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Final answer:

Term life insurance is the most commonly used type of life insurance for group plans.

Step-by-step explanation:

The type of life insurance that is most commonly used for group plans is Term life insurance. Term life insurance provides coverage for a specific period of time, typically for a set number of years. It is often offered as an employee benefit through an employer or union, and usually ends when the individual leaves the group or employment.

User Mgamerz
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