Which of the following statements is most accurate about group life insurance policies?

Group life insurance policies are designed to cover multiple individuals, typically under a single master policy provided through an employer or an organization. One of the primary advantages of these policies is that premiums are generally lower compared to individual life insurance policies. This cost efficiency arises from the pooling of risk among a larger group, which allows insurance companies to spread their risk over many insured individuals. As a result, employees often benefit from lower premiums as compared to purchasing individual coverage.

The concept of economies of scale plays a significant role in this pricing structure. Since group policies involve a larger number of insured parties, the insurer can charge lower rates due to reduced administrative costs and the ability to assess risk more effectively across a group rather than individually.

While the other statements touch on aspects related to group life insurance, they do not accurately represent common characteristics. For instance, while guaranteed acceptance might be offered in some cases, it's not universally true for all group policies. Similarly, group life insurance does not typically provide disability benefits—that’s generally a feature of group disability insurance. Lastly, participation requirements are often implemented to ensure a certain percentage of eligible employees enroll in the coverage, contradicting the notion that there are usually no participation requirements. Therefore, the assertion regarding lower premiums for employees aligns closely with