Group Term Insurance

Life cover for the whole workforce, at group rates.

A man tying his shoes before a run

Life cover for the whole workforce, at group rates.

  • Low per-employee premium
  • No individual medical tests up to the free cover limit
  • Cover automatically adjusts as the workforce changes

Group term life pays a lump sum to an employee’s family on death during service. Cover is usually set as a multiple of salary or a flat sum across grades, and the premium per employee is very low.

For many employees it is the only life cover their family has — which is why the sum assured deserves a real conversation, not a default.

Who needs this cover

  • Employers of any size above the minimum group
  • Companies with statutory or contractual death benefit obligations
  • Organisations formalising their benefits policy

Key benefits

  • Low per-employee premium
  • No individual medical tests up to the free cover limit
  • Cover automatically adjusts as the workforce changes
  • Simple, single-policy administration

What is typically covered

  • Death benefit during service
  • Optional accidental death and disability riders

Eligibility

  • Minimum group size as specified by the insurer
  • Employee data furnished and updated at renewal

Key exclusions and limitations

  • Cover ends when employment ends
  • Suicide clause as per the group policy terms

Exclusions differ between insurers and product variants. Always read the policy wording for the exact list.

Claim information

The employer intimates the claim and we handle the documentation with the insurer, so the family is not asked to navigate it during bereavement.

Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.

Frequently asked questions

Smaller businesses are usually more exposed, not less, because they have less capital to absorb a loss. A fire, a liability claim or the loss of a key person can end a small business outright. Group health cover is also one of the most effective retention tools available to a small employer.

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