Group Term Life Cover
Buy Group Term Life Cover for Your Team
Give your employees' families financial ground to stand on. Flexible life cover from 5× to 20× annual salary, tax benefits under Section 80C and protection from Day 1 — no medical tests, no waiting period. Tell us about your team and get a customised quote.
10,000+
Businesses Served
2 Million+
Lives Covered
4.7
Google Business Rating
Why life cover matters for your team
The conversation is hard to have. The cover is easy to provide.
Most families have no safety net
India's household savings rate has fallen to under 10% of income. A sudden income loss due to an employee's death would push most families into financial crisis within months.
Individual term plans leave out many employees
Many employees — especially younger ones — don't have personal term insurance. Medical conditions or lifestyle factors make it expensive or difficult to get individual cover.
It signals deep care
Offering life cover says: "We've thought about your family, not just your performance." Few benefits create stronger loyalty or trust between an employer and their team.
Who Should Buy Group Term Life Insurance?
Group term life is the lowest-cost addition to any benefits stack, which makes it viable at every team size.
Startups
Up to 50 employees
Offer a benefit that signals real intent, at a premium a lean team can absorb. Often the first non-health benefit a founder can justify.
Mid-Sized Companies
51 to 250 employees
Match what larger employers offer without a proportional cost increase. Salary-multiple structures scale with your bands as you grow.
Large Enterprises
More than 250 employees
Cover a wide salary range under one policy, with differentiated sum insured by grade and a clean audit trail for stakeholders.
Key Features of Group Term Life Cover With An Onsurity Membership
Death Cover, Any Cause
The nominee receives the full sum insured on death from any cause — illness or accident — not accidents alone.
Flexible Sum Insured
Set cover as a flat amount or a multiple of annual CTC, with different levels by employee grade or band.
Nominee Payout
Paid as a lump sum directly to the registered nominee. Death benefit proceeds are exempt under Section 10(10D) of the Income Tax Act, subject to conditions.
No Medical Underwriting
Members are covered without medical tests up to the free cover limit agreed with the insurer.
Annually Renewable
Cover renews with your membership. Members joining mid-term are added pro-rata and covered from their enrolment date.
Day 1 Activation
Cover begins from the date of enrolment. No waiting period and no health check-ups required at joining.
Illustrative cover amounts
Cover can be a flat amount, a salary multiple, or grade-differentiated.
Annual salary
₹4,00,000
× 10× multiple
Life cover
₹40,00,000
Est. premium: ~₹133/month
Entry level · IT, ops, support roles
Example
Annual salary
₹10,00,000
× 10× multiple
Life cover
₹1,00,00,000
Est. premium: ~₹333/month
Mid-level · Engineering, sales, product
Annual salary
₹25,00,000
× 15× multiple
Life cover
₹3,75,00,000
Est. premium: ~₹1,042/month
Senior level · Leadership, CXO-1
Premiums are illustrative. Actual premiums depend on group size, age profile and insurer underwriting.
Tax benefits for both employer and employee
GTL is one of the few employee benefits where savings flow in both directions. The company reduces its tax outgo; the employee's family receives the payout tax-free. It is genuinely a win-win structure.
Talk to a benefits advisorEmployer premium deduction
Fully deductible as a business expense under Section 37(1) of the Income Tax Act — for both private companies and LLPs.
Employee 80C benefit
If employees contribute to the premium, their portion is eligible for deduction under Section 80C (up to ₹1.5 lakh per year).
Nominee payout is tax-free
The death benefit received by the nominee is entirely exempt from income tax under Section 10(10D) of the Income Tax Act.
Group structure advantage
GTL premiums are significantly lower than equivalent individual term plans due to group risk pooling — so you get more cover per rupee of premium.
Tax information is general in nature. Consult your CA or tax advisor for your specific situation.
"The best time to set up life cover is before you need it. The second best time is today."
No employer plans for the loss of a team member. But the businesses that have GTL in place are able to support grieving families immediately — without uncertainty, without delay, and without the family having to fight for what they are owed.
Set up GTL for my teamTools, guides & explainers
Size up premiums, compare group covers, and get clear on the jargon before you buy.
GPA & Term Life Premium Calculator
Estimate per-employee monthly cost for accident and life cover in seconds.
Open →Group Health Premium Calculator
Get an indicative per-employee/month cost for group health cover.
Open →GMC vs GPA vs GTL
Which group covers your company actually needs, and how they differ.
Open →What is sum insured?
How cover amounts are set, and how salary multiples translate to a payout.
Open →Is your policy good enough?
Score your current group cover out of 100 and find the gaps.
Open →Get a quote
Tell us your team size and get a tailored GTL quote for your company.
Open →Frequently asked questions
Group Term Life (GTL) pays out on death from any cause — illness, accident or natural causes. Group Personal Accident (GPA) pays out only for accidents and associated disabilities. GTL is broader for death cover; GPA specifically addresses accident risk. Many employers offer both.
Minimum sum insured is typically ₹5 lakh per employee, with no upper limit subject to the insurer's underwriting guidelines. For groups without free cover limits (FCL), individual medical underwriting may apply above certain amounts.
The FCL is the maximum sum insured per individual employee up to which the insurer grants cover without individual medical tests. For groups of 10+, FCLs typically range from ₹50 lakh to ₹2 crore depending on the insurer. Members with sum insured above the FCL may need to provide a health declaration.
Standard GTL covers employees only. Spouse and dependent life cover can be added as optional riders on select plans. Speak to an Onsurity advisor to explore whether dependent cover is right for your organisation.
With complete documents, most death claims are settled within 7–15 working days. Onsurity's claims team proactively contacts the nominee, collects documents on their behalf and tracks the claim to completion. Nominees are never left to navigate the process alone.
GTL is an employer-sponsored group plan. Cover ends when the employee leaves. Some plans offer a portability option where the departing employee can convert their GTL cover to an individual policy without medical underwriting — subject to the insurer's terms.
Get The Complete People Protection Stack
Give your employees total peace of mind with Onsurity’s bundled health and wellness solution. Customize it as per your team’s unique needs and get the best quote from top providers.
Group Health Insurance
Cashless hospitalisation cover for your team and their families, managed on one dashboard.
Explore →Group Personal Accident Insurance
A payout for accidental death and disability — the accident-specific cover that sits alongside group term life.
Explore →Corporate Wellness
Doctor consultations, health check-ups and everyday wellness benefits on the Onsurity Super App.
Explore →Give your team the protection they deserve.
An Onsurity advisor will help you design the right group term life structure and get you a quote in just one conversation.
Talk to usIRDAI-regulated · Available for 2–500 employees · Works standalone or with GHI & GPA