Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Nov 3, 2021

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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Facts You Should Know

  • Group life insurance is a single contract that covers an entire group of people
  • MetLife is the largest insurer in the United States based on life insurance policies in force
  • Term life insurance is the most common type of group life insurance

Group life insurance is the type of life insurance in which a single contract covers an entire group of people, usually through an employer. This type of coverage typically offers cheaper types of insurance plans and policies.

Life insurance companies that offer group insurance are some of the best life insurance companies around. Sometimes, the costs are even covered by the company that offers group life insurance.

Find the best, most affordable life insurance companies that offer group insurance. Enter your ZIP code and get free life insurance quotes today.

What is the top life insurance company that offers group insurance?

MetLife insurance company is the largest life insurer in the United States based on life insurance policies in force and the most popular provider of group life insurance. MetLife Insurance Review is rated by A.M. Best with an A+.

However, you can buy group life insurance through your place of employment, and it could be offered by any of the following insurance companies:

Group Life Insurance Providers
Insurance Companies That Offer Group Life Insurance
AIG
Anthem
Chubb Life Insurance
Cigna
Guardian
Health Care Service Corporation
Liberty Mutual
Lincoln Financial Group
MetLife
Mutual of Omaha
Nationwide Life Insurance Company
New York Life Insurance Company
Prudential
Reliance Standard
Securian
State Farm Life Insurance
Sun Life Financial
The Hartford
The Standard
Transamerica Life Insurance Company
Unicare
Unum Life Insurance
USAble Life
Voya Financial
Zurich American Insurance
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When it comes to group insurance, MetLife offers group variable universal life, group universal life, and term life insurance.

What types of group life insurance does MetLife offer?

Group variable universal life combines future protection with a tax-deferred investment feature. This policy type offers many different things:

  • Flexibility to pay additional premiums above the cost of insurance into a variety of investment options
  • Interest-bearing fixed account with a guaranteed minimum interest rate
  • Provides access to cash value through loans and withdrawals, with no early withdrawal penalties or surrender charges
  • Allows you to start or stop your additional premium payments at your convenience or make a lump-sum payment at any time during the year

A simple life insurance policy with a savings option is the group universal policy. Not only is the policy owned by you, but it’s permanent and portable; It will follow you between jobs.

This type of insurance policy supplements your retirement income. It can include a tax-free deferred saving feature for added flexibility. This will secure your financial future.

Lastly, they offer three different types of group term life insurance, which is the most common type of group insurance:

Basic Term Life:

  • Employee-paid coverage option
  • Provides your beneficiaries with crucial financial protection

Supplemental Term Life:

  • Employee-paid coverage option with the ability to purchase additional protection
  • Dependent, spousal, or domestic partner coverage available

Dependent Term Life:

  • Provides coverage for your spouse, civil union partner, domestic partner, and eligible children

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What are the pros and cons of having group life insurance?

There are both pros and cons of having group life insurance. The pros include convenience. It is relatively easy paperwork and is most likely included in your hiring documents.

The affordable life insurance rates also make group life insurance a better option, especially since basic policies are usually free for the employee. There is no group term life insurance tax, and any premiums you pay for group life insurance that is not group term insurance is also a taxable benefit.

Acceptance is also a major pro. Most who apply and buy group life insurance have guaranteed acceptance. Select supplemental plans may also allow you to buy additional coverage, up to a set amount, without providing information on your health.

Coverage being tied to your job is a con of group insurance. If the plan is not portable, then you may not be able to take the policy with you should you change careers. You could also be limited in choice of life insurance company as employers typically work with only one insurer.

Lastly, low coverage amounts are a con. Coverage amounts vary and can be low. You might want to buy an individual term life insurance policy along with your group life policy if you need additional coverage.

What is a life insurance savings group?

A fixed monthly payment or “savings contribution” allows you to gain access to money that you can use right away to pay for medical, dental, and vision expenses.

What is not used is completely refundable. Life insurance companies that don’t offer group insurance usually don’t offer a life insurance savings group.

A life insurance savings group is not an insurance plan and is not meant to replace your existing coverage. It is designed to fill gaps in coverage that have been created by healthcare reforms and rising health insurance costs.

If you need to find affordable life insurance, consider getting group life insurance and a savings plan in one. Enter your ZIP code below and to get free quotes from life insurance companies that offer group insurance today.