Group Term Life Insurance
Financial security for your employees' families when they need it most.
Group Term Life Insurance provides life insurance coverage to employees under a single corporate policy. In the unfortunate event of an insured employee's death during the policy period, the applicable sum insured is paid to the nominee, subject to the policy terms.
Group Term Life Insurance provides life insurance coverage to employees under a single corporate policy. In the unfortunate event of an insured employee's death during the policy period, the applicable sum insured is paid to the nominee, subject to the policy terms.
We work with leading insurers
across General, Health and Life Insurance
What can Group Term Life Insurance cover?
Depending on the plan selected, your policy can include:
Death Benefit
Pays the applicable sum insured to the nominee in the event of the insured employee's death during the policy period, subject to policy terms.
Natural & Accidental Death
The basic life cover generally applies to death due to natural as well as accidental causes, subject to applicable exclusions.
Accidental Death Benefit
An additional benefit for death caused by a covered accident can be included where available.
Permanent Disability Benefit
Additional protection against specified permanent disability may be available through optional riders.
Critical Illness Benefit
Specified critical illness benefits may be included through available riders, subject to insurer terms.
Terminal Illness Benefit
A terminal illness benefit may be available depending on the insurer and plan selected.
Build the cover around your workforce
Your Group Term Life programme can be structured according to your organisation's employee benefit philosophy and budget.
You can customise:
- Sum insured per employee
- Uniform cover for all employees
- Cover based on salary multiples
- Cover based on designation or employee grade
- Different benefit levels for different employee categories
- Accidental death benefit
- Disability benefits
- Critical illness riders
- Other available riders and extensions
Why choose Group Term Life Insurance?
Financial security for employees' families
Life insurance provides financial support to an employee's nominee or family following the employee's death.
A valuable employee benefit
Employer-sponsored life insurance strengthens the overall employee benefits package and demonstrates the organisation's commitment to employee welfare.
Significant cover at an efficient cost
Group insurance allows employers to provide meaningful life cover across a workforce under one master policy.
Flexible benefit structure
Cover can be uniform across employees or linked to salary, designation, grade or another agreed benefit structure.
Already have a Group Term Life policy?
We can review your existing programme and help you understand:
- Whether the current sum insured is adequate
- Employee eligibility and coverage
- Salary-linked versus fixed benefit structures
- Existing riders and additional benefits
- Free Cover Limit requirements
- Medical underwriting requirements
- Claims experience
- Premium and insurer options at renewal
Share your existing policy with us and our corporate insurance team can review it.
Frequently Asked Questions
It is a life insurance policy under which an employer or organisation provides life cover to a defined group of employees under a master policy.
Help protect the people who depend on your employees
Our corporate insurance team can help you design a Group Term Life programme that provides meaningful financial protection while fitting your organisation's employee benefit strategy and budget.
Coverage, benefits, exclusions and eligibility are subject to the terms and conditions of the policy issued by the insurer.