Sidebar_image1 Sidebar_image1 Sidebar_image1
1 3 2 4 5 6
Sidebar_image1 Sidebar_image1 Sidebar_image1

All you wanted to know about Group Term Life Insurance

Group term life insurance is the term coverage offered to a group of people under a single umbrella policy. In the event something were to happen to the individual covered under this policy; then the sum assured will be paid out to the other beneficiaries. This benefit will be available for the pre-determined term offered […]

Read More

Group Term Insurance: Has the landscape changed post-Covid 19?

Covid-19 brought in unprecedented challenges, the group insurers also faced a new set of challenges. So, the industry was already stressed due to the increasing medical costs, reduced demands, severe competition for markets share etc. The bouts of waves are indicative of repeated economic disruptions and pressure upon medical infrastructure. In fact, the industry has […]

Read More

What are the benefits of group term insurance?

Most employers provide Group Insurance Plans to their employees, especially senior or more valuable ones. So, many of us might be covered under Group Term Plans, as well. However, we might not have much knowledge on how they work and the benefits available under these plans. Here’s a quick roundup on the nuances and benefits […]

Read More

What is the significance of FCL in GTL policy?

FCL stands for Free Cover Limit in the GTL policy. It’s the limit up to which the insurer doesn’t require medical tests for a grant of coverage in the policy.   Free cover limit FCL, determined by two parameters in the GTL policy – sum insured and employee’s age.   The sum insured limit states […]

Read More

What is the “Active at work” clause under GTL Insurance policy?

Though life insurers waive individual medical underwriting up to FCL limits. They necessitate that the GTL insurance cover,  underwritten subject to the “Active at work” clause. An employee is actively at work under GTL Insurance if he/she is: either actively performing his/her normal occupation or taking leave (other than sick leave) authorized by the employer; […]

Read More

What affects the Premium of Group Term Life Policies?

A group term life policy is purchased by an organization, to cover a minimum number (group) of employees. The very nature of the group term life 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 […]

Read More

Why Premium is Lower in Group Term Policy Than Individual Term Policy?

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

Read More

Group insurance policies that offer life cover

Coverage under group life insurance policies depends on the terms and conditions under which a company buys the policy. Types of group insurance policies There are different group insurance policies that come with life insurance cover. Group term life insurance This policy offers a lump sum benefit payable to the specified beneficiary in case of […]

Read More

How to decide coverage under the Group Life Insurance Policy?

The employer can choose different benefit calculations to determine the amount of coverage for the employees under a group life insurance policy. In general, for group insurance contracts, the employer assigns employees to different classes and schedules of benefits. These classes determine the amount of coverage that will be provided to the employee. Here are […]

Read More