Group Term Life
- A type of life insurance that covers multiple individuals under a single contract, typically offered by employers as part of employee benefits.
- It provides financial protection in case of death or total permanent disability during employment.
What It Covers:
Death Benefit
Natural or accidental cause
Total & Permanent Disability (TPD
Provides a payout if the insured
becomes permanently disabled and is
no longer able to work.
Optional add-ons:
Critical Illness
Lump-sum payout if you’re diagnosed with a serious
illness listed in the policy such as cancer, heart
attack, or stroke
Accidental Death & Dismemberment (ADD)
- Accidental death
- Loss of limbs, sight, hearing, or other vital functions due to an accident
Key Features:
- One policy covers all employees under a single contract
- Lower premiums compared to individual life insurance
- Annual renewal basis
- Can be bundled with group medical plans for full protection
