Group term life insurance gives every employee life cover under one policy paid by the employer. It is a valued benefit that costs far less per head than individual policies, and most members can be covered without medical tests up to the free cover limit.
Who needs it
- Companies, firms and institutions with a group of employees
- Employers wanting to improve retention with low-cost benefits
- Businesses with employees who have no personal life cover
What's covered
Death benefit
A lump sum to the employee's nominee on death during employment.
Flexible cover design
Flat amount, grade-wise, or a multiple of salary.
Simple enrolment
New joiners added and leavers removed through the year.
What's not covered
We show you the catch before you buy. Common exclusions (exact terms vary by insurer and plan):
- Suicide within the first year of cover, as per policy terms
- Cover above the free cover limit without the required medical underwriting
- Employees not reported to the insurer in the member data
Popular add-ons
Accidental death benefit
Extra payout for accidental death.
Permanent disability
Payout if an employee is permanently disabled.
Documents checklist
To get a quote or buy
- Employee census: name, date of birth, gender, salary or grade
- Company KYC and GST certificate
- Previous policy and claims experience (if renewing)
To make a claim
- Claim form signed by the employer
- Death certificate
- Nominee KYC and bank details
- Proof of employment and cover
Frequently asked questions
How many employees do we need?
Insurers set their own minimum group size; many start from a small group. Tell us your headcount and we will check.
Is the premium an expense for the business?
Premiums paid by the employer are generally treated as a business expense. Please confirm with your tax adviser.
Related cover
Group Mediclaim Insurance (GMC)
Group health insurance with cover typically from day one, optional family and parents cover, and claims support for your HR team.
ExploreGroup Personal Accident Insurance
Accidental death and disability cover for employees under one policy, with optional weekly income benefit and accident medical expenses.
ExploreFire & Burglary Insurance
Property cover for buildings, machinery and stock against fire and allied perils, with burglary cover for theft after forced entry.
ExploreNot sure what you need?
Tell us about your family or business and we will suggest the right cover, in plain language.
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