Group Term Life Insurance

GTL insurance stands for Group Term Life insurance. It is a type of life insurance policy that provides coverage for a group of people, such as employees of a company or members of an organization.

Under a GTL insurance policy, the employer or the organization purchases the policy on behalf of its members or employees and pays the premiums. In the event of the death of a covered member or employee, the insurance company pays out a death benefit to the beneficiary

GTL insurance policies are typically offered as a part of the employee benefits package by employers. The coverage amount is usually based on the employee’s salary, and it may be a multiple of their annual salary. The premiums for GTL insurance policies are generally lower than individual life insurance policies, as the risk is spread over a group of people

GTL insurance is a valuable employee benefit, as it provides financial security to the employees’ families in case of their untimely death