Which type of policy is typically issued without proof of insurability from the insured?

A group policy is typically issued without proof of insurability from the insured because it covers a group of individuals, such as employees of a company or members of an association, under a single contract. The risk is spread across a larger number of people, which minimizes the insurer's exposure to high-risk individuals. This feature allows individuals within the group to obtain coverage without undergoing the medical underwriting process that would usually be required for individual policies.

In contrast, individual policies require proof of insurability as the insurer needs to assess the health risk associated with each individual applicant. Term policies and universal policies, while they can be issued individually, also necessitate proof of insurability in most cases unless they are part of a group coverage arrangement. This ensures that the insurance company can appropriately evaluate the risk associated with insuring the individual.

The unique characteristics of group policies contribute to their accessibility and affordability, making them a popular option for providing life insurance coverage without the barriers that often accompany individual applications.