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a group of 15 skydivers met at a seminar and began talking about life insurance during a break. because it was expensive to get individual life insurance, they decided to band together to form a small group so that they could qualify for group life insurance. after they applied for group life insurance, they were rejected. why?

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Tundexi

As it was expensive to get individual life insurance and they decided to band together to form a small group so that they could qualify for group life insurance, but after they applied for group life insurance, they were rejected, this is because the purpose of the group was to purchase life insurance.

What is a group life insurance?

Basically, a group life insurance refers to an insurance policy offered by an employer such as an association or labor organization to its workers or members. A group life insurance is fairly inexpensive and may even be free for certain employees, and is pretty common nationwide.

The policy of group life often has a relatively low coverage amount and is offered as a piece of a larger employer or membership benefit package. So, the members of a group life policy do not need to submit to a medical examination and are not subject to individual underwriting.

Read more about group life insurance

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