There are two folded benefits of Group Term Life Insurance one for the employee and one for the employer
- Financial coverage to family against unforeseen future
- Relaxation from going through the hassle of medical checkups
- Death benefit is exempted from tax under Section 10(10D) 1961
- The cover is provided at a much lower price as compared to individual term cover.
Learn More: What is GTL, What is GMC, GPA, Difference between GTL and GPA
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