In today’s world full of uncertainties, insurance is a crucial aspect of your solid financial plan. Term insurance and health insurance are the two main essential insurance coverages that every individual must have. Without this comprehensive financial protection, one cannot ensure peace of mind. Securing the financial future of dependent family members and having a […]
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. The significance of FCL in a GTL policy lies in its role as the maximum amount of coverage that can be provided to an individual […]
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, be 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 […]
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 specific ed beneficiary in case […]
What is a Group Term Life Insurance Policy?
A Group term life insurance policy is a 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 […]
What are the advantages of The 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. Group insurance does not limit to employer-employee groups only because it extends to other groups like banks, NGOs, etc.; also. Here are some of the benefits of group-term life insurance […]
What are the different Types of Life Insurance Policies?
Similar to health insurance, life insurance policies are of two types: Individual Life Insurance Group Term Cover Unlike a health insurance policy, there is no family life insurance cover, although, there can be joint life cover. Group term cover is a simple term plan which is provided to a large homogenous group of people. The […]
Know about Group Term Life Insurance Policy
Group term life insurance policy is a master policy taken by any organization for its employees. The life of an individual is a journey full of uncertainties. Nobody wants to face difficulties and mishaps, but sudden accidents or events affecting life badly are in nobody’s control. Also, an individual that works and earns doesn’t do […]
What are the conditions for a new employee to be covered under Group Term Life Insurance of the employer?
Most companies offer group-term life insurance policies to their employees. The policy ensures that even after the death of the employee, his/her family’s future is secure. At the time of buying group term life policy (GTL insurance). The insurer takes into account all the current employees, in case, more employees join the organization. The following […]
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 family. 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 […]