Group Terms Life Insurance/GTL

Group Terms Life Insurance

Group Terms Life Insurance/GTL is a pure Term Insurance policy that provides for financial assistance to its employees or their family members.

A Group Terms Life Insurance/GTL policy is a popular policy among the employers who care about the well being of its employees and their families. Employers take Group Terms Life Insurance/GTL to demonstrate to their employees how much they value them. Group Terms Life Insurance/GTL is also used as a retention and reward tool by corporate.

Group Terms Life Insurance/GTL policy covers a homogeneous group. Normally, a company takes this to cover the financial loss to its employees or their family members in the event of Death/ Accidental Injury, etc.

Group Terms Life Insurance/GTL policy has many advantages not only for the members covered under the policy but also the proposer.

  • Proposer normally an employer use it as an attraction and retention tool for their prospective and existing employees
  • Proposer is providing the employee and its family members peace of mind by providing their employees this cover
  • Proposer can claim the premium as a business expense thus reducing the tax liability
  • Employees get the advantage of life cover if they don’t have a personal one
  • Employee’s families get financial security in case of an eventuality
  • Banks also grant loans easily to those proposers who have life cover in their name

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Other than the Pure Term Insurance Cover proposer can also opt for host of add-on covers in Group Terms Life Insurance/GTL. These benefits are

  • Critical Illness cover
  • Accidental Death cover
  • Accidental Disability cover, etc.

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  • One Master Policy covers all members of policy
  • Annual renewable Term Insurance Plan
  • Addition and Deletion of members on monthly basis
  • Flexibility to cover Spouses as well
  • Easy Claim Settlement procedure

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