Total amount of monthly premiums billed at a specific time to cover all outstanding group insurance.

Designated title under which a group is enrolled in an insurance plan.

Number assigned to a group insurance plan that identifies the employer or specific insured group. It appears on each member’s identification card and is used when submitting an insurance claim to the insurance company for payment. Also called group insurance number, employer number, G-number, case number, file number, account number , and company code number .

Type of group permanent life insurance that has premiums based on issue age. It accumulates and builds reserves and cash surrender values.

Type of group permanent life insurance in which the employee’s contributions are used to purchase paid-up insurance. The employer’s contributions are used to purchase term insurance. The employees’ insurance coverage remains level each year. As the amount of paid-up insurance increases over time, the amount of term insurance that the employer purchases to make up the difference decreases. This type of life insurance has a cash surrender value.

Type of life insurance that builds cash value and is composed of a group. It may be used to fund a group pension plan or to provide life insurance coverage that will continue after retirement.