Group Life Insurance

Overview

Group life insurance is a type of insurance designed to provide financial protection against unexpected situations, aimed at maintaining the living standards of employees and their families, typically offered by employers or organizations.

Features

  • All employees aged between 18 and 65 are eligible for coverage under the policy.
  • Coverage requires a minimum of 10 employees.
  • The insurance term is one year. Insurance policy has the option to be renewed annually upon request.

Advantages

  • Employers benefit from favorable tax treatment on premiums under this insurance. Personal insurance premiums for salaried employees can be deducted up to 15% of the gross monthly salary paid. For detailed information, please visit the website of the Revenue Administration Presidency of the Ministry of Finance at www.gib.gov.tr.