Ownership:

Individual Life Insurance: Individual life insurance policies are owned by an individual and purchased directly from an insurance company or through an insurance agent or broker. The policyholder pays premiums directly to the insurance company and has control over the policy's terms, coverage amount, beneficiaries, and beneficiaries.
Group Life Insurance: Group life insurance policies are typically purchased by employers or organizations to provide coverage to a group of employees or members. The policy is owned by the employer or organization, and the insured individuals are covered under a master policy. Employees or members may have the option to contribute to the cost of coverage, but they do not own the policy individually.

Coverage:

Individual Life Insurance: Individual life insurance policies provide coverage for an individual insured person and can be customized based on the insured's needs, financial goals, and health status. Coverage options include term life insurance, whole life insurance, universal life insurance, and other types of policies.
Group Life Insurance: Group life insurance policies provide coverage for a group of insured individuals, such as employees of a company or members of an organization. Coverage is typically offered as a basic benefit and may include a fixed amount of coverage or a multiple of the employee's salary. Group policies often offer limited coverage options and may not be as customizable as individual policies.

Cost:

Individual Life Insurance: The cost of individual life insurance premiums is based on factors such as the insured's age, health, lifestyle, coverage amount, and type of policy. Premiums are typically higher for older individuals or those with health issues.
Group Life Insurance: Group life insurance premiums are often lower compared to individual policies because coverage is provided to a large group of individuals. Premiums are based on factors such as the group's demographics, overall health status, and claims experience. Employers may subsidize part or all of the premium costs for employees as a benefit.

Eligibility:

Individual Life Insurance: Individual life insurance policies are available to individuals of any age, health status, or occupation, although premiums may vary based on these factors. Applicants may be required to undergo a medical exam or provide medical history information as part of the underwriting process.
Group Life Insurance: Group life insurance coverage is typically offered as an employee benefit by employers to eligible employees. Eligibility criteria may include factors such as employment status, length of service, full-time or part-time status, and other employment-related factors. Coverage may be automatic or require enrollment during specified enrollment periods.