What kind of insurance does a group life insurance policy typically offer?

A group life insurance policy primarily offers term insurance for employees. This type of insurance is designed to provide death benefits to beneficiaries in the event of an employee's death while they are covered under the policy. Group life insurance policies are usually more affordable and accessible due to the pooled risk among a group of individuals, typically provided by an employer or organization.

It is structured as a term policy, meaning it offers coverage for a specific period, often tied to the individual’s employment status. If the employee leaves the company, the coverage typically ends, unless there are options to convert to an individual policy. This contrasts with whole life insurance, which provides coverage for the insured's lifetime and can accumulate cash value, making it less common in group settings.

The other options, such as long-term insurance for retirees and accidental life insurance for specific events, do not accurately reflect the main characteristics of group policies, which are generally designed for active employees rather than retirees or specific incident coverage.