Group Term Life Insurance
The core insurance package includes Basic Group Term Life Insurance (BGTL). This is automatic coverage for every employee and his/her family without any medical questionnaires or exams. The coverage amounts are as follows:
- Employee - $50,000
- Spouse - $2,000
- Children - $2,000 each
For active employees, coverage reduces at age 65. The premium for this coverage is included in the medical plan premium.