Which of the following is a characteristic of Group Life Insurance?

Group Life Insurance is characterized by the issuance of certificates to individual members after a master policy is established. In this type of insurance, instead of each member needing to apply for coverage individually, a master policy is created for the entire group, which is typically held by an employer or an organization. Once this master policy is in effect, certificates of insurance are distributed to the individual members. These certificates serve as proof of coverage and outline the benefits each member receives under the group plan. This structure allows for easier administration and often provides cost benefits compared to individual policies.

The other options do not align with the characteristics of group life insurance. For example, requiring physical exams for all members is not standard in group insurance; many groups can provide coverage without requiring individual health assessments. Additionally, a master policy is not issued to individuals; it is issued to the organization or employer that is sponsoring the group plan. Finally, group life insurance is generally more affordable than individual policies, as the risk is spread over a larger pool of participants, leading to lower premiums.