|
|
|
Getting Started
-Life Insurance Policy-Life Insurance Benefits -Best Insurance Policy -Life Insurance Companies -Life Insurance Quotes Life Insurance Types
-Types of Insurance-Term Life Insurance -Supplemental Life Insurance -Cash Value Insurance -Endowment Insurance -Family Life Insurance -Whole Life Insurance -Group Term Life Insurance -Variable Universal Life Insurance -Premium Life Insurance -Joint Life Insurance -Accidental Death Insurance -Viatical Life Settlement Insurance Tips
-Low Cost Insurance-Insurance Tax Benefits -Insurance Buying Tips -Top Insurance Companies Useful Articles
-Universal Life Insurance-Life Insurance Coverage -Term & Whole life insurance -Life Insurance Leads -Life Insurance Settlement Recommended Sites
-Universal Life
InsuranceFree Newsletter
Stay updated, sign up for our free newsletter to receive useful tips Full NameEmail Id 
|
Does a group life insurance policy your choice?Some employers to attract the best employees will often announce various schemes for their employees .The group life insurance is the common one.Therea re lot of benefits in group life insurance so do the disadvantages .Anyhow the benefits often out do the demerits .Talk to your employer right away to start a group insurance scheme. Before that weigh the pros and cons in it .Read through.The article covers
Advantages of a Group Life Insurance PolicyThe employers usually own a group insurance policy. Family Life Insurance Company offers two modes for paying the premiums in a group insurance policy. The usual procedure is deducting the premium amount from your salary and depositing it to the insurer. The employer himself pays the premium amounts as a welfare measure in the other alternative. The employer can follow any method on his discretion.If your employer prefers the second category then the policy amount that is paid after maturity will be equivalent to one year's salary in most cases. This might also vary as per the terms and conditions of different policies. The premium amount and returns are also dependent on your position and seniority in the company. There is no upper limit on the premiums except for some restrictions in law and your company's policies. Some companies pay extremely high premiums and they consider it as a labor welfare measure. The higher the premiums the greater are your returns. Some employers even insure your child and spouse. In any case the returns are directly proportional to the premiums and there is no point in counting on how many people has your employer insured but in finding out how much he has insured for you. When it comes to other conditions group insurance is usually provided till you serve in the company. Once you retire or resign the policy gets terminated and the amount is paid to you or any other alternative action follows as per the agreement in the policy. Employers also choose whole insurance policy whereby you will be able to enjoy the benefits even after your stint in the company. The premiums for group insurance policies also increase as one gets older because the risks of death are greater. Cost of Group Life Insurance PolicyThe premiums are very nominal as far as a group insurance policy is concerned due to two reasons. Firstly the number of policy holders is very huge in a group insurance policy unlike an individual insurance policy. Secondly the amount invested in a group life insurance is very huge. This is a profitable option for the insurer because the numbers of persons insured are large but the risks are small. All the persons taking the group insurance are unlikely to die at the same moment and also the company can be assured of prompt payment of insurance premiums.Medical Examination in a Group Life Insurance PolicyYou will not have the hassles of undergoing multiple medical tests that are usually demanded by the insurer. The insurer will take your medical statement into confident and may ask you to undergo medical tests if he is not satisfied about your heath. Before giving a group insurance policy the insurer will assess the general health conditions of the persons applying for the insurance. Like any other insurance the health of the all the insured plays a vital role in deciding the amount of insurance. The more the numbers of policies you take from a family life insurance company the benefits are greater.Continue to: Factors to Consider in Group Life Insurance Related ArticlesWhat are the kinds in life insurance policy?Is term life insurance policy your pick of the bunch? Can I supplement my life insurance policy? Is availing credits possible in life insurance policy? Am I endowed with monetary benefits during my lifetime? Can I expect return on investment beyond protection? Group Term Life Insurance - Do the Conditions Satisfy You? Variable Universal Life Insurance - Flexibility at its Best? Has Return of Premium Life Insurance (ROP) Come to Stay? Joint Life Insurance - No Extra Benefits for You Here Act Smart! Get AD&D Insurance Policy! Is the seller of life settlement sure to die? Viatical Settlements
|
|
Home |  |  |  | Privacy Policy | Disclaimer | Copyrights | Contact Us |
