What affects the Premium of Group Term Life Policies?

A Group term policy is purchased by an organisation, to cover a minimum number (group) of employees. The very nature of this policy affects the premium amount. An employer usually chooses to cover all insured members under the same risk and therefore, pays a lump sum premium to the insurance company. It means an equal […]

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Why Premiums Are Lower in Group Term Policy Than Individual Term Policies?

The premiums for the group term policies are dependent on various factors, like number of people insured in the group, the average sum insured per person, average age of the group members, occupational risk of the group, etc. Insurance premium consist of three components: Risk Premium Loading for Office Expenses Investment Component The premium for […]

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What is covered under the Group Life Insurance Policy?

The coverage of the group life insurance policy is dependent upon the terms and conditions at which company has taken the policy. Here are the different types of group insurance policies which come with life insurance cover: Group Term Life Insurance: In this policy, a lump sum benefits are payable to the beneficiary in case […]

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What is a Group Term Life Insurance Policy?

Group term life insurance policy is the policy that provides life insurance coverage to a group of people.  The employers or any other group administrator can subscribe to it to cover the lives of its employees or members. The group term insurance policy provides financial support to the family members of the employee in case […]

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What are the advantages of Group Term Life Insurance policies?

As the name itself suggests, a group term life insurance is designed to offer life insurance to a group of people under a single policy. A group insurance is not limited to employer-employee group only because it extends to other groups like banks, NGOs, etc.; also. Here are some of the benefits of group term […]

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Know about Group Term Life Insurance

Group term life insurance policy is a master policy taken by any organization for its employees. A life of an individual is a journey full of uncertainties. Nobody wants to face difficulties and mishaps, but sudden accidents or events affecting the life badly are in nobody’s control. Also, an individual that works and earns doesn’t […]

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How Does Group Term Life Insurance Work?

Employees are the most valuable assets of an organization. As an employer, one may feel responsible for their well-being and the security of their respective families. In case an employee dies a natural or accidental death, it affects not only his family but is unpleasant for the organization and his colleagues as well. The best […]

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What Are The Benefits Offered Under Group Term Life Insurance?

Group Term Life Insurance Policy Benefits both employers and employees in multiple ways: Benefit for Employers Group term insurance helps in retention of talented employees. The premium or cost of such policy is tax deductible for the firm. Helps maintain a healthy relationship with employees and retain the preferred employer brand. It is an inexpensive […]

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Who Can Purchase Group Term Life Insurance?

Following types of groups can buy group term life insurance on the lives of the group members: Employer-employee Consumer Groups Associations for their Members Non-Profit Organisations Other Self-interest groups formed for a purpose other than to avail a group insurance An employer can purchase this policy for employee groups In the case of an employer […]

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