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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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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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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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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