What is the difference between individual and group life insurance?

Individual and group life insurance differ in ownership, portability, underwriting, and coverage flexibility. Understanding these differences helps you make informed decisions about your protection strategy.

Ownership: Individual policies are owned by you — you control the beneficiaries, coverage amount, and the policy itself. Group policies are sponsored by your employer, meaning the employer determines many of the terms.

Portability: Individual policies stay with you forever as long as premiums are paid. Group policies end with employment.

Underwriting: Individual underwriting evaluates your specific health and lifestyle — healthy applicants receive better rates. Group underwriting pools all employees together, which benefits those with health issues but may cost healthy individuals more.

Coverage flexibility: Individual policies can be customized with riders, higher limits, and various product types. Group policies have standard terms set by the employer's plan.

Coverage limits: Individual policies can often provide multi-million-dollar benefits. Group plans typically cap at 5x salary or a flat dollar limit.

Most Nevada professionals benefit from using both: group coverage as a workplace benefit and individual coverage as the primary portable protection. Agents in our network can help you identify the right supplemental coverage from A-rated (A.M. Best) carriers.