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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 […]

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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; […]

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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 […]

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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 […]

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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 […]

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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 health insurance, there is no family life insurance cover, although, there can be joint life covers. Group term cover is a simple term plan which is provided to a large homogenous group of people. The only difference […]

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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 […]

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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 the retention of talented employees. The premium or cost of such a policy is tax-deductible for the firm. Helps maintain a healthy relationship with employees and retain the preferred employer brand. It is an […]

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