What is GTL policy?
Asked by: Prof. Amparo Bahringer | Last update: January 16, 2026Score: 4.2/5 (47 votes)
What kind of insurance is GTL?
Group-term Life (GTL) insurance plans are a popular benefit provided or offered by a vast majority of employers1 to their full-time employees. GTL provides income and asset protection to a covered employee's survivors in the event of the death of the employee during the years the insured is actively employed.
What does GTL mean in insurance?
Group term life insurance (GTL) is one of those items they may discover on their paystub if it is part of your employee benefits package. This employee benefit may be extended to employees' spouse and dependents.
What is the GLT policy?
A type of term insurance plan in which a single policy is used to cover several individuals is called group term life insurance. It offers a cash guarantee to the beneficiary of the group term life insurance policy in the event of the insured's death.
What does GTL mean on my paycheck?
Group Term Life Insurance (GTL)
The taxable portion is computed using your gross wages, the age you are on December 31 of the taxable calendar year, and a cost table per $1000 of coverage provided by the IRS. On your paycheck under Deductions, you will see “GTL” with a benefit amount.
GTL पॉलिसी क्यों करनी चाहिए GLT के फायदे benefits of GTL policy #ippb #gtlpolicy #gds_latest_news
How does GTL work?
Local Exchange Carrier Customers (LEC)
If your local telephone provider allows collect calls, with your approval, an incarcerated offender can call you collect. GTL will bill you via your local telephone provider if you accept a collect call from an incarcerated offender.
Is imputed income good or bad?
Even though some non-cash benefits count as imputed income and increase employees' tax liability, they're still a great way to compensate employees beyond their regular wages. That's because voluntary perks and personalized benefits are becoming crucial to an employer's compensation package.
Can I opt out of GTL?
Can I Opt Out of Group Term Life Insurance? Some companies allow employees to opt-out of group term life insurance, others do not. Because it is offered as a no-cost benefit to the employee, it may not make sense to opt-out of the insurance.
What is GLT used for?
Glued-laminated timber (GLT/Glulam) is often used in long-span designs, where it can replace steel and concrete in beams, columns, and other load-bearing structures.
What type of policy is GTL?
What is GTL in salary? GTL, or Group Term Life insurance, is a benefit provided by employers as part of an employee's salary package, with the employer typically covering the premiums.
What is GTL stand for?
Group term life is group insurance or an insurance policy that covers more than one person. Group term life is often used to provide coverage for small business entities and their employees.
Who normally pays the premiums for group credit life insurance?
In most cases, the borrower or debtor is responsible for paying the premiums for group credit life insurance. These premiums are typically added to the loan amount and included in the monthly loan payments. The borrower bears the cost of the insurance coverage as part of the overall loan agreement.
What is GTL insurance rating?
As of 2024, GTL is proud to have a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) by AM Best.
What is GTL used for?
Gas to liquids (GTL) is a refinery process to convert natural gas or other gaseous hydrocarbons into longer-chain hydrocarbons, such as gasoline or diesel fuel. Methane-rich gases are converted into liquid synthetic fuels.
How do I file a claim with GTL?
To file a claim, access claim forms on the Customer Portal or select the claim form from the drop-down below to download and print. If you have any questions, feel free to contact us by calling GTL's Customer Service Department at 1-800-338-7452.
What is GTL in healthcare?
Guarantee Trust Life (GTL) has a longstanding reputation for delivering innovative and client-focused insurance solutions. Their Hospital Indemnity Insurance plans are designed to provide financial peace of mind by covering the unexpected costs associated with hospital stays and related medical expenses.
What is the primary purpose of GLT?
The objective of goal-line technology (GLT) is not to replace the role of the officials, but rather to support them in their decision-making. The GLT must provide a clear indication as to whether the ball has fully crossed the line, and this information will serve to assist the referee in making their final decision.
What is GLT in company?
Group Leadership Team (GLT)
The GLT is chaired by the CEO. The GLT members are appointed by the CEO and approved by the Board.
How do I get my GTL refund back?
Contact the GTL® AdvancePay® Service Department. We require a written request to be mailed or faxed by the owner of the account for a refund. GTL® strives to process refunds within 30 days (and after verifying initial payment method), and typically within 60 days, at the latest.
Is group term life insurance worth it?
Group term life insurance is a good benefit to have, but there are some limitations to keep in mind. Because group coverage is linked to employment, if you change jobs, stop working for a period of time, leave to open a business, or retire, then the coverage will stop.
What is a GTL account?
The GTL suite of payment tools can accept deposits for government payments, inmate telephone accounts, PIN debit telephone accounts, commissary accounts, trust fund accounts, bail/bond payments, and payments to other government or correctional facility accounts.
How much tax will I pay on imputed income?
Withholding imputed income taxes
Add imputed income to an employee's normal taxable wages for the payroll period and calculate income tax withholding on the total. Withhold income tax on the imputed income at the flat 22% rate that applies to supplemental wages.
How is GTL imputed income calculated?
Note: The calculation of imputed income is required only for group term life plans that are subject to Internal Revenue Code, Section 79. To arrive at the imputed income amount: Subtract $50,000 from the total amount of insurance coverage (the total benefit amount) Divide that number by 1000.
Is GTL considered a fringe benefit?
The cost of employer-provided group-term life insurance on the life of an employee's spouse or dependent, paid by the employer, is not taxable to the employee if the face amount of the coverage does not exceed $2,000. This coverage is excluded as a de minimis fringe benefit.