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What Our Plans Cover
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Death benefit for each covered emp...
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Cover from the date of joining
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Accidental death benefit
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Terminal illness benefit on some s...
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Optional critical illness and disa...
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Automatic cover for new joiners wi...
Who Can Consider This Plan?
- Entry age typically 18 to 65, with cover ceasing between 60 and 85
- Demonstrable income — the sum assured must be justified by earnings
- Full disclosure of health, smoking, alcohol use and family medical history
- Medical examination, usually required above a threshold age or sum assured
- Indian resident or NRI, subject to the insurer's country rules
What May Not Be Covered?
- Any cover at all after employment ends — the defining limitation
- Employees above the free cover limit without individual underwriting
- Suicide within the first year, on most schemes
- Dependants, unless a specific extension is purchased
- Cover during unpaid leave, on some schemes
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Group term life covers a defined group — usually the employees of an organisation — under a single master policy. Cover is typically expressed as a multiple of salary, individual medical underwriting is minimal or absent, and the cost per employee is a fraction of individual cover.
For the employer it is one of the highest-value benefits available per rupee spent. For the employee it is genuine protection that costs nothing personally. Both of those things are true.
What is also true, and consistently underestimated, is that the cover belongs to the employment rather than to the person. It ends on the last working day. Employees who treat it as their life insurance discover the gap at the worst possible moment — during a job change, at redundancy, or at retirement.
Who should consider it
Employers of any size looking for a high-impact, low-cost benefit, and employers with a contractual or statutory obligation to provide death cover.
For employees: value it, use it, and hold your own term policy alongside it. The correct way to think about group cover is as a supplement to personal cover, never as a substitute for it.
Benefits
- Very low cost per employee compared with individual cover
- Minimal or no individual medical underwriting
- Cover for employees who would be loaded or declined individually
- Premium is generally a deductible business expense for the employer
- Cover typically expressed as a multiple of salary and adjusts with it
- Administered centrally with one renewal and one point of contact
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Death benefit for each covered employee, from any cause
- Cover from the date of joining, subject to the scheme rules
- Accidental death benefit, where the scheme includes it
- Terminal illness benefit on some schemes
- Optional critical illness and disability extensions
- Automatic cover for new joiners within the free cover limit
Typically not covered
- Any cover at all after employment ends — the defining limitation
- Employees above the free cover limit without individual underwriting
- Suicide within the first year, on most schemes
- Dependants, unless a specific extension is purchased
- Cover during unpaid leave, on some schemes
- Retired employees, unless a continuation option is exercised
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 We work out the cover, before the plan Income, liabilities, dependants and the years they need supporting. The sum assured is the decision; the brand is a detail.
- 2 Underwriting reality check Health, occupation, smoking and family history decide who will accept you and at what price. Better to know now than after a rejection.
- 3 Two or three quotes with the claim record attached Premium matters, but so does the insurer's claim settlement history and how it treats early claims.
- 4 Proposal, medicals and financial underwriting Medicals are arranged at home. For larger cover the insurer will also want income proof — we prepare that file properly.
- 5 Policy issued, and your family knows where it is A term plan nobody can find is a term plan that does not pay. We make sure the nominee has the details.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- For employees, this is the point that matters: the cover ends with the job. Hold your own term policy so that a resignation or a redundancy never leaves your family uninsured.
- The free cover limit is the threshold below which no individual underwriting applies. Senior employees above it need individual assessment, and that is where schemes most often have gaps.
- Ask whether the scheme offers conversion to an individual policy on exit. Where it does, it is worth knowing the window and the terms before you need them.
- A salary-linked multiple is convenient and rarely matches an individual's actual liabilities. It is a benefit, not a financial plan.
- For employers, review the sum assured basis annually against salary movement. Cover set as a multiple three years ago can quietly fall behind.
Documents required
- Completed proposal form with full health and lifestyle disclosure
- Identity proof — Aadhaar, passport or PAN
- Address proof
- PAN card, mandatory for life insurance
- Income proof — salary slips, Form 16 or filed returns
- Bank statements, for larger sums assured
- Medical reports, arranged by the insurer
- Recent passport-size photograph
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.