Group Term Life Insurance: Whose Benefit Is It Really?
BENEFITS
❓ “If we’re paying for group term life insurance, shouldn’t we get the payout?”
That’s what a Singapore business owner asked me after losing a team member. It’s a question I hear more than you’d expect—and it’s got real human consequences. In Singapore’s fast-paced market, Group Term Life Insurance (GTL) is a key benefit. But it’s not about your bottom line. It’s about trust, care, and doing right by your people.
Real Lives, Real Stakes
GTL is meant to protect your employees’ families—not the company. But for that to happen smoothly, there needs to be clarity in how it works.
At a mid-sized professional services firm, a long-serving employee passed away suddenly. The company had GTL coverage in place, but no formal internal protocol on how to initiate claims or verify next of kin.
HR had a name listed in the emergency contact database but wasn’t confident it reflected the most recent family situation. Understandably, they hesitated—unsure of the legal implications or the right timing to act. Meanwhile, the family, unaware that coverage even existed, didn’t initiate a claim.
When the family eventually contacted HR about final employment matters, the benefit came to light—and thankfully, everything was resolved. But the process left both sides navigating confusion during an already difficult time.
This is where I stepped in to help. As their advisor, I:
Reviewed the policy to clarify payout structure and HR's role
Guided the team in setting up a claims playbook
Helped shape clearer employee communications
The positive lesson? The company used that experience as a turning point. They formalized their GTL protocol, reviewed next-of-kin data, and began briefing new hires about the coverage from day one. A clear process is now in place—and that’s the kind of care that builds long-term trust.
Is Your GTL a Safety Net or a Tangle of Red Tape?
Great corporate benefits isn’t just a perk. It builds trust, keeps talent, and shows your team you’ve got their back. But I’ve seen too many plans with good intentions fall apart because of vague processes or poor communication. Don’t let that be your story.
Leadership That Shows Up
GTL isn’t about costs—it’s about care. “The payout goes to the family, but the choice to provide it? That says everything about your leadership values.” — Jacky Ong
Here’s Where to Start—and I Can Help
Want to get GTL right? Check your policy: who owns it, how claims work, and whether internal roles are clear. Make sure your team knows this benefit exists—mention it during onboarding and keep next-of-kin contacts updated.
Better yet, let’s review your plan together to ensure it reflects your people-first vision.
💭 When the unthinkable happens, what’s your GTL saying about your company?
📩 Want a second set of eyes on your GTL setup? Contact Jacky Ong for a straightforward review that puts your people first. Great planning matters most when it’s needed most.