Group term life insurance is a type of temporary life insurance in which one contract is issued to cover multiple people. The most common group is a company where the contract is issued to the employer who then offers coverage to employees as a benefit. Many employers provide, at no cost, ...
Group term life insurance is a common part of employee benefit packages. Many employers provide, at no cost, a base amount of coverage as well as an opportunity for the employee to purchase additional coverage throughpayroll deductions. The insurance plan also may offer employees the option to b...
Group Term Life A customisable protection plan which provides financial coverage when it matters. Designed specially to suit the needs of your employees. Invest in your employees' well-being Comprehensive protection at affordable premiums for your team....
However, the actual coverage amount can vary depending on the specific policy and the employer’s chosen level of coverage. This death benefit is payable to the designated beneficiary or beneficiaries of the insured employee. In most cases, group life insurance provides term life coverage, meaning...
The taxable amount varies on an individual basis, but you may be able to find it on your paystub as a line item labeled “group term life” or “GTL.” This indicates the amount of premiums your employer paid toward your coverage that are taxable. Ready to shop for life insurance?Start...
Most large life insurance companies have recently introduced group universal life insurance products, and considerable interest in these products is being shown by employers. The purpose of this pa...
The higher life insurance death benefit amounts mean you may have to fill out a health questionnaire to qualify. The results are used to calculate your rates and eligibility for coverage. Pros and cons of buying life insurance through work Here are the main advantages of getting group life ...
Group life insurance is often included as an employee benefit, but it may not cover all of your needs.
Under the federal tax code, employer-paid coverage amounts up to $50,000 are generally income tax-free to employees. How group term life insurance works Group term life insurance provides cost-effective insurance protection for a specified period of time. It provides a base level of protect...
Group Term Life Get S$1 million coverage for just S$0.83 per day for you or your dependants 100% payout in the event of Death or Total and Permanent Disability No medical check-up and underwriting required for up to S$300,000 coverage Receive daily hospital cash benefit Pay the same ...