Group Term Life Insurance (GTLI) policy help companies provide life insurance to its employees. A single policy is issued for all members of the group which is renewed on an annual basis. The policy allows for addition or deletion of members of the group anytime during the policy period and sum assured is paid to the nominee on death of any of the member of the group. It serves as a cost effective tool for employers to buy higher covers at low premium thereby serving a retention tool for the companies. It is hugely beneficial to employees too as there are no medicals required till a certain sum assured.