Group Coverage · sub-product

Group Term Life (GTLI)

Lump-sum life cover for employees' nominated beneficiaries, payable on death from any cause. The senior-talent retention benefit that costs a fraction of equivalent individual term insurance.

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Coverage at a Glance

Death from Any Cause

Cover applies regardless of natural or accidental cause

Lump-Sum to Nominee

Single payment, no annuity or instalment structure

Flexible Sum Insured

Flat amount, salary multiple or graded benefit structures

No Medical Underwriting

For groups above the minimum threshold, no individual medical examination

Coverage

What this sub-cover provides

A focused placement that responds to the specific transit, treatment or workforce event this cover is designed for.

Death from any cause

The sum insured is paid to the nominated beneficiary on the employee's death from any cause - natural illness, accident or otherwise - during the policy period.

Flexible sum-insured structures

Cover can be a flat amount, a multiple of annual salary (typically 1-3x CTC), or graded by seniority level. Most large groups use a salary-multiple structure.

No medical underwriting

For groups above a minimum threshold (typically 25-50 lives), cover is granted without individual medical examination or proposal-form disclosures.

Newborn cover free transfer

On the birth of a child, the employee's nominated beneficiaries can be updated without reunderwriting - the existing cover continues uninterrupted.

Critical illness rider

Optional rider paying a portion of the sum insured on diagnosis of specified critical conditions - rare in standard group placements but available where the employer wishes to extend the programme.

Accidental death double benefit

Optional rider doubling the payout on accidental death - typically a small additional premium where the workforce is exposed to elevated accident risk.

Group Coverage

Our Approach

The benefit that matters most when an employee no longer can.

Group Term Life is the cover that responds at the worst moment in an employee's life. Most employers buy GTLI as a routine procurement item and rarely audit whether the sum insured actually replaces the employee's income for the family's reasonable future. We calibrate the cover against actual financial obligations, a salary multiple structure that tracks promotion and inflation, not a flat number agreed five years ago.

Key Benefits

What you get when we place this cover

Salary-multiple sum insured

Cover linked to current cost-to-company, typically 1-3 times annual salary. The sum insured tracks promotion and inflation automatically.

No medical underwriting at threshold

For groups above 25-50 lives, individual medical examinations are not required. This makes the cover universal across the workforce and avoids healthier-employee selection bias.

Beneficiary update without reunderwriting

Employees can update their nominated beneficiaries throughout the policy term - on marriage, birth of a child, divorce or any other life event.

Senior-talent retention layer

Group term life is one of the most cited senior-employee benefits in corporate-benchmarking surveys. The cover signals long-term employer commitment.

FAQ

Common Questions

Most insurers require a minimum of 10 lives for a GTLI policy with simplified underwriting, and 25+ lives for no-medical-examination underwriting. Smaller groups can be placed but require individual medical disclosures for each covered life.

Three common structures: a flat amount across all employees (simplest, less common), a multiple of annual salary (typically 1-3x CTC, most common), or graded by seniority level (entry-level at lower multiple, senior management at higher). We design the structure with the HR team at placement.

Under Section 10(10D) of the Income Tax Act, the death benefit under a life insurance policy is generally tax-free in the hands of the beneficiary. This applies to group term life policies subject to the standard conditions of the section.

Group cover ends on the day employment ends. Most insurers offer a conversion option to convert the group cover to an individual policy without medical underwriting within 30 days of departure - at the individual policy premium rate, which is materially higher than the group rate.