Find Insurance terms beginning with the letter G…

Grace Period :
The specific additional time you get, from the insurance company, after the due date to pay the premium and avoid lapse is called Grace Period.
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Gratuity:
Gratuity is the monetary benefit given by the employer to the employees at the time of retirement or when they part away from company.
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Gross Premium:
Gross premium is the total premium paid by the insured. It consists of the net premium plus the operation expenses minus the interest. The premium amount indicates the total premium that contains brokerage and discounts.
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Group Gratuity Scheme:
A group gratuity scheme is the insurance policy that helps the employer save money to pay gratuity to the employees.
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Group Insurance:
An insurance policy that covers a defined group of people, such as employees of a company or members of a group is called a group insurance policy.
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Guaranteed Survival Benefits:
Guaranteed Survival Benefits are the benefits given to the policyholder only on surviving during or the complete policy term.
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