What is the ruling on life insurance if the company pays its premiums as a donation from its own funds, and is it permissible for the employee to take the financial surplus distributed as a result of transferring the insurance to another, cheaper company?

Commercial insurance, in all its forms, is impermissible due to its inclusion of excessive gharar (un undue risk/uncertainty), gambling, and other Sharia-prohibited elements. The small premium amount does not change its impermissibility. If the company cancels the contract, it is only entitled to the premiums paid. The insurance payout is not rightfully theirs to possess, as it was acquired through unlawful means. As for the employees whose company voluntarily insured them, their ruling is the same as the company's: it is not permissible for them to take the insurance payout because it was received through a voidable contract. A voidable contract requires the return of what was exchanged by both parties. However, the premiums that the company paid and then received back upon cancellation, the employee may take them as a gift from the company.