Group Life Insurance Plans are the type of insurance that provides cover to a group of individuals under a single contract. In these insurance plans, which are usually offered under the employee benefit package, the primary policy owner is the employer. Here, entire premium or in some case, the major part of it, is paid by the employer or the company. Group Insurance plans are renewed on yearly basis and offer coverage, either equal or one or two times of the salary of the employee/group member.

Employees are the treasured part of any organization. These days more and more companies are becoming employee-centric and corporate health insurance has emerged as one of the most preferred benefits to lure new talent. It plays a crucial role in influencing the psychology of an employee.