### Question
What does group life insurance contract mean?


### Answer
**Group life insurance contract** has the following meaning in *26 U.S.C. § 848*:

> any life insurance contract—



(A) which covers a group of individuals defined by reference to employment relationship, membership in an organization, or similar factor,



(B) the premiums for which are determined on a group basis, and



(C) the proceeds of which are payable to (or for the benefit of) persons other than the employer of the insured, an organization to which the insured belongs, or other similar person

#### Citation:
  - *26 U.S.C. § 848*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter L-Insurance Companies > PART III-PROVISIONS OF GENERAL APPLICATION**

