Call us



Have query on premium, payout or any servicing need?

Dedicated NRI Helpdesk:

Call Icon +91 22 6251 9966

Monday - Saturday | 10 am - 7 pm IST
Call charges apply


Want to buy a new policy online?

For Indian Residents

Call Icon +91 22 6984 9300

Give missed call for a call back:

Call Icon +91 11 6615 8748

Monday - Sunday | 8 am - 11 pm IST

Exclusively for NRIs

Initiate Internet Call

Data charges may apply

Give missed call for a call back:

call +91 11 4473 0242

Available All Days | 24 x 7

Back Arrow Icon
Close Button
Back Arrow Icon
Close Button

Need assistance in choosing the right insurance plan? Get a call from our Expert.

Need assistance in choosing the right insurance plan?Get a call from our Expert.

+91 dropdown arrow

Select Plan dropdown arrow
  • Term plans
  • Saving plans
  • Wealth plans
  • Retirement plans
  • I don't know/I need help

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in. T&C apply.

How to Choose the Right Group Life Insurance Plan?

5-June-2021 |

Insurance plans have become an absolute necessity considering the vulnerability of human life in today’s times. Companies willing to make smarter choices for their employees invest in policies that can take care of their workforce and their loved ones after them. A group term insurance plan is one such example. Offered by the employer, group insurance plans in India are inexpensive and very common among the leading large-scale organizations.


These plans are a hassle-free way to have insurance benefits at an affordable premium where not only the worker but also their immediate family, including spouse, children, and dependent parents, can be covered.


Group life insurance plans offer continuous safety and security against life’s most common and inevitable certainties, such as death, temporary or permanent illness, disability, accident, critical illness,or even cancer. the plans act as a shield that protects those covered under them.


Image Of Group Life Insurance Plan - Blog Banner


Key Features of a Group Plan:



Under a group insurance policy, a business purchases a master agreement from an insurance agency. The premium is decided based on the number of individuals and the level of inclusion. If there is an increase in the number of individuals covered, the premium will grow proportionately. Similarly, premium expenses on the higher side will be returned by the insurance agency if the number of individuals covered decreases. The insurer is held accountable for the group’s wellbeing, and individuals are not required to undergo any medical tests.


Financial ease


Group insurance plans are not as costly as individual plans. This is because having many employees under one plan permits the insurer to club different costs, such as organizational, operational, and renewal, and distribute them among the individuals.


Co-partnership between employee and employer


If the policy is supported by the business, there is no monetary pressure on the employees. Both employees and employers contribute to the premium for the group life insurance plan.



What are the benefits of a Group Life Insurance Plan?




Affordability is one of the many noted benefits of group life insurance plans. Both businesses and employees, for the most part, share the premium expenses for insurance plans, making them highly reasonable for each party. As for the premium contribution, the business may choose to deduct the amount from their employees’ compensation.


Value for Money


Another attractive benefit of group insurance plans is value for money. Employees do not have to pay separately other than a premium drawn from their monthly take-home salaries. Meeting all the requirements for group plans is simple, with inclusion ensured to all group individuals. Unlike individual plans, group insurance plans in India do not need a medical test.


Wider Coverage


A group life insurance plan gives life cover assurance to many people under a single or master agreement. The insurance agency does not need to go through the dreary cycle of rounding up applications or direct medical tests for every candidate. All things considered, the business becomes the candidate and the primary policyholder, subsequently selecting the arrangement benefits and finishing the paperwork on their own.


Tax Coverage


Group plans offer tax* advantages for the employees just as much they do for the businesses. The death benefits given to representatives under the plan are exempted under Section 10(10D) of the Income Tax Act.


What are the different types of Group Insurance Plans?


Here’s how the various plans differ from each other:


1. Term Life Cover


Most group term insurance plans offer term disaster protection plans. The arrangement can be restored yearly. No proof should be given to the insurance agency to benefit from the plan. In this way, it is possible to complete the documentation without clinical trials. This basic and direct life cover plan provides advantages to businesses and employees. Employers get a tax exemption when purchasing a protection plan. If the employee contributes to the protection plan, the sum paid will be deducted from annual income taxes under segment 80C.


If you are looking for a decent term life cover Tata AIA Online offers Life Insurance Group Sampoorna Raksha (UIN: 110N154V01) plan as comprehensive package protection against death, illness, or disability. The plan is designed to benefit the applicant with the amount equivalent to their total sum assured when needed, ensuring financial security.


2. Pension or Superannuation Plan


Group life insurance plans are offered by employers to help employees build their retirement corpus. It is seen as an option different from other mainstream retirement plans like the EPF and NPS. The premium contributed towards these plans develops over a period and gives employees a huge corpus at the time of retirement.


3. Personal Accident Insurance


This resembles individual insurance plans. The only distinction is that it is offered to a group. By and large, most businesses, credit companies, and banks offer group personal accident insurance cover to their representatives and clients. The coverage offered under this arrangement compensates for the expense due to accidental injuries during work hours, prompting hospitalization, incomplete or perpetual disability, and even death.




Group term insurance plans offer greater benefits in terms of life as well as financial security. They pay the sum assured even if the policyholder is no more, the requirement being this should be before the end of the payment term. Thus, it provides greater security to the employees and their dependents. Tata AIA Online offers a host of  group life insurance plans  for different requirements to meet every need and preference.

Connect with our experts  today.

People also ask –

What are the benefits of group insurance?

What are the types of group insurance?

What is a group plan?

What are the benefits of group and individual insurance?


Get complete protection at affordable cost & tax benefits

+91 dropdown arrow
  • +93 Afghanistan

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in.


Looking to buy a new insurance plan?

Our experts are happy to help you!


Select plan
  • Term plans
  • Saving plans
  • Retirement plans
  • Wealth plans
  • I don't know/I need help

TATA AIA Life Insurance Co. Ltd will send you updates on your policy, new products & services, insurance solutions or related information. Select here to opt-in

People Like You Also Read

Is the group term plan provided by your employer enough for you?
Read More
Everything You Need to Know About Group Insurance
Read More

People Like You Also Read

Is the group term plan provided by your employer enough for you?
Read More
Everything You Need to Know About Group Insurance
Read More
Website Logo Image Icon

Tata AIA Life Insurance

A joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA),  Tata AIA Life Insurance  is one of the leading life insurance providers in India. We post everything you need to know about life insurance, tax savings and a variety of lateral topics such as savings and investments in this space. You can access and read a host of different blogs, articles and pages at the Tata AIA Life Insurance Knowledge Center or get in touch with us with any queries or questions!

View all posts by Tata AIA Life Insurance