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