Which of the following is common in group life insurance products?

In group life insurance products, it is common to see lower premiums for group coverage. This is primarily because group policies are purchased by organizations or employers to cover multiple individuals, which typically results in cost savings due to economies of scale. These lower premiums are often attractive to both employers and employees, making group life insurance a popular benefit.

The risk is spread across a larger number of individuals, which reduces the overall risk that the insurer faces compared to individual policies, where underwriting decisions may be based on the health and risk profile of each applicant. Thus, group insurance generally benefits from simpler administrative processes and less stringent underwriting requirements, allowing for more affordable pricing structures. This advantage of lower premiums is one of the main reasons employers offer group life insurance as part of their benefits package.

Other options, like individual underwriting, which assesses each policyholder's risk individually, and multiple policy limits, which apply more commonly to individual plans, do not reflect the characteristics typical of group coverage. The exclusion of pre-existing conditions is also less likely to apply in group insurance situations, as many group plans offer coverage regardless of the individual's health status at the time of enrollment.