Group Term Life Insurance lets employers provide affordable life cover to all employees under a single master policy — a valued benefit that supports employee families in case of an unfortunate death, with simplified underwriting and no individual medical tests in most cases. CoreLink Finance helps businesses set up and manage the right group policy.
Group pricing is typically far more economical than individual term plans, for the same amount of life cover.
Most group plans require minimal or no individual medical underwriting, up to a free cover limit.
A valued addition to your benefits package that supports employee morale, retention, and goodwill.
Group Term Life Insurance is a single master policy taken out by an employer (or an association) that covers all eligible members — typically employees — under one umbrella. If a covered member passes away during their employment (or membership), the insurer pays the sum assured to their nominee.
Because the risk is pooled across the whole group, premiums are usually much lower than what each person would pay individually, and most plans offer cover without requiring individual medical tests, up to a "free cover limit" set by the insurer.
Many organisations offer this as a standard employee benefit, often alongside group health insurance, to give employees and their families a financial safety net at a cost the company controls and budgets centrally.
One policy covers the entire eligible employee base, simplifying administration for HR.
Employees get cover up to a set limit without individual medical tests, based on group size and profile.
Choose a flat sum assured for everyone, or grade cover by designation, CTC, or seniority.
New joiners are added and exits removed through simple endorsements to the master policy.
Pooled risk across the group typically means significantly lower premiums than individual plans.
Enhance the policy with accidental death, disability, or critical illness riders for the group.
A visible, valued benefit that supports retention and strengthens your employer brand.
The employer pays a single consolidated premium, usually renewed annually.
| Sum Assured | Group Size: 20–100 | Group Size: 100–500 | Group Size: 500+ |
|---|---|---|---|
| 5 Lakhs | ₹450 – 650 | ₹400 – 580 | ₹350 – 500 |
| 10 Lakhs | ₹850 – 1,200 | ₹760 – 1,080 | ₹650 – 950 |
| 25 Lakhs | ₹2,000 – 2,850 | ₹1,800 – 2,550 | ₹1,550 – 2,250 |
*Indicative figures per employee per annum, for a sample profile. Actual premiums depend on group size, average age, industry, claims history, and insurer. GST applicable as per prevailing rates.
At CoreLink Finance, we don't just help you buy a policy — we actively support you through the claim process by coordinating with the insurer, guiding documentation, and following up for a smooth experience.
We help you choose the right insurer and policy based on claim settlement ratio, reliability, and your profile.
Before policy issuance, we ensure all your personal, financial, and medical details are accurate and properly declared.
We guide you in filling out proposal forms correctly, so no hidden or incorrect information gets submitted.
In case of a claim, you get a personal claim expert who handles the process — from documentation to settlement.
We actively coordinate and follow up with insurers to ensure quick and smooth claim processing.
Our team checks all documents before submission to avoid technical errors that often lead to delays or rejection.
HR teams can follow these steps to make sure claims for employee families go through without friction.
Keep the insurer's records of covered employees, their sum assured, and nominees up to date at all times.
Ensure every employee submits valid nominee details as part of joining formalities.
Update the insurer whenever employees join or leave, so coverage reflects the current team.
For sums assured above the free cover limit, ensure employees complete any required medical declarations.
Designate an HR representative who can quickly coordinate paperwork with the insurer on a claim.
Make sure employees and their families know this cover exists and how to raise a claim if needed.
Group Term Life is ideal for any organisation that wants to protect its workforce. Consider this if you are:
An employer looking to offer a core life insurance benefit to staff
Building a competitive employee benefits package for hiring and retention
Running a factory, warehouse, or field operation with physical-risk roles
An HR or finance team wanting simplified, centrally-managed life cover
An association or trade body wanting to cover its registered members
Looking for cost-effective life cover compared to individual employee plans
Talk to CoreLink Finance for honest, no-obligation guidance on setting up Group Term Life for your organisation.
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