Is it permissible for an employee to subscribe to a life insurance policy whose premiums are fully paid by the company, and the employee has the right to terminate it and recover the payments minus expenses, or his heirs receive compensation in the event of his death, with the intention of saving?

Commercial life insurance is forbidden, and therefore it is not permissible to subscribe to it, even if the person does not pay its premiums, because it involves cooperation in sin and aggression. Allah Almighty says: "And cooperate in righteousness and piety, but do not cooperate in sin and aggression."