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 […]

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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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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 […]

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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 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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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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