Who is the policyowner in a typical group life insurance plan?

Question: Who is the policyowner in a typical group life insurance plan?

Answer options:

• The individual employee.
• The insurance company. ✅ The employer or plan sponsor.
• The provincial government.

Correct answer: The employer or plan sponsor.

Explanation: In a group benefits plan, the employer or sponsoring organization holds the master contract and is therefore the policyowner.