Which of the following accurately describes a Group Life insurance policy?

A Group Life insurance policy is characterized by its flexibility regarding the number of insured individuals. Unlike individual life insurance, which covers a single person, a Group Life insurance policy provides coverage to a group of people under a single master policy, usually issued to an employer, association, or other entity. While there are often common practices regarding group size, there is no specific minimum number of insureds mandated by law for a policy to be classified as a Group policy, allowing for greater adaptability to various situations and organizations.

This flexibility enables various organizations, regardless of their size, to provide Life insurance benefits to members or employees, which is beneficial for both the insurer and the policyholders. Therefore, the absence of a minimum requirement for the number of insureds highlights the inclusive nature of Group Life insurance policies, making this the most accurate description among the options provided.