According to Florida law, what is the minimum number of insureds required for a Group Life insurance policy?

In Florida, there is no minimum number of insureds required for a Group Life insurance policy. This means that a group insurance policy can theoretically be issued even with just one insured, provided that the policy meets other regulatory requirements. The flexibility in this rule allows insurance companies to provide coverage to small groups, which is particularly advantageous for small employers or associations that may not have the larger employee base typically associated with group insurance plans.

In general, the group must be formed for a purpose other than obtaining insurance, reflecting the essence of what constitutes a legitimate group. This regulation supports inclusivity in insurance offerings, ensuring that smaller groups still have access to life insurance products tailored to their needs without the barrier of minimum participation requirements.