Which of the following is a feature of group credit life insurance policies?

Group credit life insurance policies are designed specifically to cover the life of multiple debtors under a single insurance contract. This allows, for example, a lender to protect themselves by ensuring that, in the event of a borrower's death, the outstanding debt will be paid off. This type of policy is particularly useful as it streamlines the process of insuring many individuals (like borrowers) at once through a collective agreement rather than requiring each individual to obtain their own life insurance policy.

The structure of group credit life insurance also offers simplicity and ease of administration, as it eliminates the need for each individual to undergo separate underwriting processes. In addition, the coverage is typically tied to a specific loan or credit obligation, ensuring that any death benefit directly addresses the financial responsibility of the insured.

Other features, such as providing a cash benefit directly to the policyholder, including long-term care coverage, or allowing for in-network and out-of-network care, do not apply to group credit life insurance policies. These aspects are generally associated with other types of insurance products, such as health insurance or individual life insurance policies.