A Group Term Life Insurance is an insurance policy that provides financial security to the group member's family in case of unfortunate death.
For example, in the case of an employer-employee group, the employer takes a GTL policy on behalf of all the employees. In case of untimely unfortunate death of the employee during the policy term, the insurance company will pay a specified amount to the insured person's family member (nominee).
Learn More: What is GMC, GPA, Difference between GTL and GPA
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