Securing lives, creating value

IndiaFirst Life Group Life Insurance Plans

Group life insurance is a single, convenient plan that provides coverage for a large group of people. Commonly used to offer life cover to employees on behalf of the employer, this collective policy ensures financial protection for employees’ families in case of unforeseen events. By opting for a group insurance, organisations can offer a valuable benefit that enhances employee satisfaction and loyalty. It also simplifies administration by managing coverage for multiple members under one plan, making it an efficient solution for businesses seeking to secure their workforce’s future.

Customized life cover for employees
Financial security for nominees
Choose from insurance riders
Cost-effective premiums
Critical illness protection
Tax Benefits

Learn More

What is Group Insurance Plans?
Key Features of Group Insurance Policy
Explore our Group and Corporate Plans
Benefits of Group Insurance Plans
Why do I need Group Life Plans?
How Does a Group Plan work?
Types of Group Insurance Plans in India
Types of Groups Covered under Group Insurance
Importance of Group Insurance Cover
Factors Affecting Group Insurance Premium
How to buy Group Insurance Plans?
Why Choose IndiaFirst Life?
Eligibility Criteria
Group Insurance Premium Calculation
Why Choose IndiaFirst Life for Group Insurance?
FAQ

What is Group Insurance Plans?

If you are wondering what group insurance is, it is a collective insurance policy that offers financial protection to a group of people, typically employees of a company, members of an association, or any organised group. Instead of each person buying an individual policy, a single master policy is issued to cover all members, making it more affordable and easier to manage. These plans provide life cover to ensure the financial security of members’ families in case of unforeseen events. These plans tend to be rather simple, unlike ULIP for individuals, but can offer the necessary coverage for all involved.

Group insurance plans also form part of the broader types of life insurance plan available in the market. While individual term insurance or whole life insurance protects one person, group insurance is designed to collectively safeguard members, often with flexible benefits like riders for critical illness or disability. Employers often choose these plans as an added benefit to enhance employee welfare while ensuring cost efficiency.

Key Features of Group Insurance Policy

Comprehensive Coverage – A group insurance policy provides collective financial protection for employees or members of an organisation, offering life cover under a single master policy.
Cost-Effective Premiums – Premiums are generally lower compared to individual policies, as the risk is spread across the group.
Easy Enrolment – Members are automatically covered under the group life insurance plans, often without medical tests, making the process simple and quick.
Additional Benefits – Policies can include riders such as accidental death, disability, and critical illness for enhanced protection.
Employer-sponsored Advantage – In many cases, employers bear part or full premium costs, making it an attractive benefit for employees.

Explore our Group and Corporate Plans

Products

IndiaFirst Employee Benefit Plan

Product Name: IndiaFirst Employee Benefit Plan
Product Description: IndiaFirst Employee Benefits Plan helps you invest the funds set aside to cover your employee liabilities such as Gratuity and Leave Encashment into market linked investments. It offers a life cover for all your employees.
Product Benefits: Manage your future employee liabilities
Choose from 4 fund options
Tax free gratuity up to 20 lakh
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Term Plan

Product Name: IndiaFirst Life Group Term Plan
Product Description: IndiaFirst Group Term Plan provides life cover to group employees and their family members at affordable price.
Product Benefits: Affordable Group Term Insurance
Voluntary or Automatic Enrollment
Hassle-free Nomination Process
Enhanced Coverage with EDLI
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Micro Insurance Plan

Product Name: IndiaFirst Life Group Micro Insurance Plan
Product Description: IndiaFirst Life Group Micro Insurance Plan provides comprehensive protection to the group’s borrowers or members.
Product Benefits: Choose from 4 Life Cover options
Flexible life cover
30 days grace period for premium payment
Family Protection
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Group Superannuation Plan

Product Name: IndiaFirst Group Superannuation Plan
Product Description: The IndiaFIrst Group Superannuation plan helps you invest the funds set aside towards your member’s retirement benefit such as pension during their employment.
Product Benefits: Guaranteed Returns
Yearly Bonus
Retirement Benefit
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Employee Pension Plan

Product Name: IndiaFirst Life Employee Pension Plan
Product Description: IndiaFirst Life Employee Pension Plan can be taken by an employer to manage employees’ post-retirement pension income flow.
Product Benefits: Pension for group employees
Assured guaranteed return of 1% p.a.
Non-zero positive interest rate on your earnings
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Employee Welfare Plan

Product Name: IndiaFirst Life Employee Welfare Plan
Product Description: IndiaFirst Life Employee Welfare Plan helps in managing employee benefits like leave encashment, gratuity and pre and post-retirement medical expenses.
Product Benefits: Manage employee benefits
Guaranteed returns of 1% p.a.
Additional life cover option
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group HospiCare (Microinsurance) Plan

Product Name: IndiaFirst Life Group HospiCare (Microinsurance) Plan
Product Description: IndiaFirst Life Group Hospicare (MicroInsurance) Plan is a non-linked, non-participating, group micro health insurance plan, which provides fixed benefit on hospitalization or on diagnosis of COVID-19 (Coronavirus).
Product Benefits: Financial support on hospitalization
Financial support if diagnosed with COVID-19
Protection against rising medical cost
Affordable Plan
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Living Benefits Plan

Product Name: IndiaFirst Life Group Living Benefits Plan
Product Description: Introducing IndiaFirst Life Group Living Benefits Plan, a comprehensive group health insurance solution for corporations.
Product Benefits: Comprehensive Group Health Insurance
Affordable Heatlh Coverage for Corporate
COVID-19 Protection for Group Life Insurance
Fixed Benefit Assurance
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Dropdown Field: Group Insurance

Products

IndiaFirst Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Product Name: IndiaFirst Life Pradhan Mantri Jeevan Jyoti Bima Yojana
Product Description: A yearly renewable life policy, Indiafirst Life Pradhan Mantri Jeevan Jyoti Bima Yojana is available to anyone with a savings bank account.
Product Benefits: Life Cover at affordable cost
Hassle-free Over the counter issuance
Tax benefits as per tax laws
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Term Plan

Products

IndiaFirst Life Group Loan Protect Plan

Product Name: IndiaFirst Life Group Loan Protect Plan
Product Description: IndiaFirst Life Group Loan Protect Plan is a group credit linked insurance which enables organizations to provide their members with an enhanced value offering - giving them security along with finances to enliven their dreams.
Product Benefits: Protect your group members & their family
Protection against loan liability
Fixed & Floating Interest covered
Tax Advantages
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Critical Illness Rider

Product Name: IndiaFirst Life Group Critical Illness Rider
Product Description: With the New IndiaFirst Life Group Critical Illness Rider, guarantee a financial cushion for yourself and your family members.
Product Benefits: Financial protection against critical illnesses
Cover based on number of critical illnesses
Get cover up to 50 lakh
Tax Advantages
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Additional Benefit Rider Plan

Product Name: IndiaFirst Life Group Additional Benefit Rider Plan
Product Description: IndiaFirst Life Group Additional Benefit Rider Plan is a non-linked, non-participating, group rider which may be attached to one-year renewable group plan and other long term group plans offered by IndiaFirst Life.
Product Benefits: Choose from 2 benefit options
Risk cover at affordable price
Protection against death
Affordable Plan
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Disability Rider

Product Name: IndiaFirst Life Group Disability Rider
Product Description: IndiaFirst Life Group Disability Rider adds a supplementary layer of coverage to your group plan that provides extra financial fortification to your loved ones.
Product Benefits: 3 Coverage Options
Risk cover at affordable price
Protection against disability
Tax Advantages
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group UL Superannuation Plan

Product Name: IndiaFirst Life Group UL Superannuation Plan
Product Description: IndiaFirst Life Group UL Superannuation Plan helps you to invest your member’s pension into multiple funds during their employment.
Product Benefits: Build wealth for your members
Marked Linked Returns
Retirement benefit for members
3 funds to choose from
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst New Corporate Benefit Plan

Product Name: IndiaFirst New Corporate Benefit Plan
Product Description: With the New Corporate Benefit Plan you can invest your funds that were kept aside towards your member’s retirement benefits such as leave encashment and gratuity.
Product Benefits: A separate plan for each scheme
Minimum guaranteed return of 0.5% p.a.
Yearly Bonus as per company’s performance
Earn easy returns
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Credit Life Plus Plan

Product Name: IndiaFirst Life Group Credit Life Plus Plan
Product Description: IndiaFirst Life Group Credit Life Plus Plan is a group credit life insurance product which serves as an opportunity for organizations/ associations to protect themselves against liability exposure and for the borrowers to protect their future assets and loved ones against the loan liabilities.
Product Benefits: Protect your loved ones from loan liability
Flexible Premium Payment
4 Life cover options
Option to choose level or reducing life cover
Product Buy Now URL and CTA Text: Know more
Dropdown Field: Group Insurance

Products

IndiaFirst Life Group Protection Rider

Product Name: IndiaFirst Life Group Protection Rider
Product Description: Group Protection Rider provides extra layer of life insurance cover to your member & his family in his absence.
Product Benefits: Risk cover at affordable price
Protection against accidental death
Protection against terminal illness
Tax Advantages
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Group Insurance

Products

Benefits of Group Insurance Plans

Affordable Premiums

Group insurance plans offer lower premiums compared to individual policies because the risk is spread across multiple members, making it cost-effective for employees and organisations alike.

Simplified Enrolment

Most plans do not require individual medical tests, allowing members to get coverage easily and quickly.

Comprehensive Coverage

These plans often include different types of life insurance add-on benefits, such as accidental death and disability benefits, ensuring well-rounded protection for employees and their families.

Tax Benefits for Nominees

Benefits received by nominees from the group policy may offer tax deductions under prevailing laws, helping your family members save money while filing IT returns.

Peace of Mind for Employees

Knowing that loved ones will receive financial support in case of unforeseen events gives employees a strong sense of security and stability.

Customisable Add-Ons

Employers can enhance the policy by adding riders like critical illness, hospitalisation cover, and income protection, catering to diverse employee needs.

Employee Retention

Offering group insurance can help enhance employee satisfaction and can help companies attract and retain talent, as it demonstrates care for workforce well-being.

Convenient Claim Process

Claims under group policies are usually processed faster, with support from the employer or policy administrator, reducing the stress during emergencies.

Covers a Wide Range of Needs

Group plans can also extend benefits to dependents, ensuring holistic protection for employees’ families.

Flexibility in Coverage

Employers can select coverage levels and benefits tailored to the workforce, allowing organisations to balance cost and protection effectively.

Why do I need Group Life Plans?

Life Cover

Get life cover for all your employees and secure their family’s future.

Choose from different rider options

Get critical illness, additional benefits, protection, and disability riders with group insurance policy.

Critical Illness Rider

IndiaFirst Life’s Critical Illness Rider offers financial protection with flexible options from 40, 20, or 5 conditions, ensuring security for members.

30-day Grace Period for Premium Payment

Master Policyholders enjoy a 30-day grace period for premium payment. Ensure timely payment for continued benefits.

Manage Employee Liabilities

Invest the funds set aside to cover your employee liabilities such as Gratuity and Leave Encashment into market linked investments.

Leave Encashment liability

Option to cover the leave encashment liability of all your employees.

Sum Assured

In the unfortunate event, a sum assured is payable to the nominee, depending on the policy cover amount.

Tax Benefits on Premiums

Enjoy tax benefits on the premium paid and on sum assured under Section 80C and 10(10)D of the Income Tax Act, 1961.

How Does a Group Plan work?

Standardised coverage

Since the risk is spread out over a large group of people, the premium rates offered for group insurance plans are very competitive.

Two types of groups covered

Group plans for Employee-Employer Groups and non-employee-employer groups.

Master policy

A single master policy is issued for a group insurance policy. The policy is issued to the group manager or administrator.

Coverage to all the members

Irrespective of the group's size, group insurance plans offer coverage to all the members under one single group insurance policy.

Group of All Sizes Covered

Whether there are 100 or 1000 people in a group, a group insurance scheme covers a group of all sizes.

Policy in force

The policy remains in force only if a member continues to be the part of the group.

Policy Premium Option

Group insurance premium can be charged to the whole group or individual members, depending on group insurance scheme provision.

Types of Group Insurance Plans in India

Group Health Insurance

Provides medical coverage to employees and, in many cases, their families. This health insurance plan covers hospitalisation, surgeries, and other medical expenses, reducing out-of-pocket costs for members.

Group Term Life Insurance Plan

Term life insurance for a group offers life cover to employees under a single master policy. This life insurance plan ensures beneficiaries receive financial compensation in the event of the insured employee’s death during the policy term.

Group Personal Accident Insurance

Covers accidental death, disability, or injuries. It provides financial support for treatment costs, income loss, and rehabilitation in case of accidents.

Group Travel Insurance

Designed for organisations with employees traveling frequently, this plan covers risks like trip cancellations, medical emergencies abroad, and baggage loss.

Group Gratuity Insurance

Helps employers meet their statutory gratuity liabilities by funding gratuity payouts through an insurance-backed solution.

Group Superannuation Plans

Retirement-oriented plans that allow employers to contribute to employees’ retirement funds, building a financial safety net for post-retirement years.

Group Critical Illness Insurance

Provides a lump sum benefit if a member is diagnosed with specific critical illnesses like cancer, heart disease, or stroke, helping manage medical and lifestyle expenses.

Types of Groups Covered under Group Insurance

Employer-Employee Groups

The most common category, where organisations purchase a group insurance policy for employees, providing life or health coverage as part of workplace benefits.

Professional Associations

Industry or trade associations can offer group insurance to their registered members, ensuring collective financial security.

Non-Employer Groups

Groups formed by credit societies, banks, or microfinance institutions to provide insurance benefits to their members.

Student Groups

Educational institutions can arrange group insurance for students, covering accidental death, disability, or medical emergencies during their academic tenure.

Borrower Groups

Financial institutions extend group insurance to loan borrowers, ensuring outstanding debts are covered in case of death or disability.

Affinity Groups

Social clubs, alumni networks, and community organisations can arrange group insurance to safeguard their members’ interests.

Importance of Group Insurance Cover

Financial Security for Members

Group insurance offers a vital safety net, ensuring employees or members can protect their families financially in case of unforeseen events such as illness, disability, or death.

Affordable Protection

Premiums under group insurance plans are significantly lower than individual policies, making it an affordable way for organisations to extend coverage to a large group.

Simplified Process

Enrollment is easy, with minimal paperwork and no medical tests required for most members, enabling faster access to benefits.

Comprehensive Benefits

These plans provide life, health, accidental, and critical illness coverage, with optional riders for enhanced protection tailored to group needs.

Employee Retention Tool

Offering group insurance boosts employee satisfaction and loyalty, as it reflects an employer’s care for workforce well-being.

Understanding Coverage

Many policies include life benefits, helping members understand how does term life insurance work, as beneficiaries receive payouts within the coverage period.

Factors Affecting Group Insurance Premium

Size of the Group

Larger groups typically enjoy lower per-person premiums since the risk is spread across many members. Smaller groups may face slightly higher rates.

Age of Members

The average age of the insured group impacts premiums. A younger group generally results in lower costs, while an older workforce may lead to higher premiums due to increased risk.

Type of Coverage

Whether the plan includes only basic life cover or adds benefits like health, accidental, or critical illness protection can influence premium rates. Including a life insurance rider for added benefits also raises the cost.

Occupation and Risk Profile

Groups with high-risk professions, such as construction or manufacturing, often attract higher premiums due to elevated chances of claims.

Sum Assured

Higher coverage amounts directly increase premium costs, as the insurer takes on more risk.

Claims History

A group with frequent or large claims may face increased premiums upon policy renewal, as insurers adjust rates to cover potential losses.

How to buy Group Insurance Plans?

Step 1

Basic details

Share your group member’s basic details like name, dob, mobile number, email id etc.

Step 2

Additional Details

Share investment and contribution details.

Step 3

Get Quote

Quickly generate a quote to calculate the returns.

Step 4

Payment details

Our group sales expert will contact you to help you with the payment processes.

Why Choose IndiaFirst Life?

Securing your employees and their family members’ life is important. IndiaFirst Life Group Plans are designed to prioritize these goals. Here's why opting for our Group plans is the right choice:

Trusted by 1.6 Crore Customers for their life insurance policy

Promoted by Bank of Baroda

High Claim Settlement Ratio of 98.42%

Seamless Online and Offline Experience

100% Genuine Claims are Settled in 1 day.

What are the Eligibility Criteria of Group Insurance Plans?

General

All the members of the group life insurance must be full-time members.

Age

The minimum age at entry is 18 years.
The maximum age depends on the specific policy. It may differ between 60 to 80 years.

No. of Employees

The minimum number of employees in the group can range from 7 to 50.

Group Insurance Premium Calculation

The premium for a group insurance plan is determined by factors such as the size of the group, average age, risk profile, type of coverage, and the sum assured selected for each member. Larger groups generally enjoy lower per-person costs, while groups with older or high-risk members may face higher charges. The inclusion of additional benefits, such as riders for health or accidental coverage, can also increase the premium. Organisations can use group insurance premium calculators provided by insurers to estimate costs based on their workforce’s profile and coverage needs, helping them plan benefits effectively while maintaining affordability.

Why Choose IndiaFirst Life for Group Insurance?

IndiaFirst Life offers comprehensive life insurance solutions designed to meet the diverse needs of organisations and their members. Its group insurance plans come with flexible benefits and optional add-ons like the critical illness rider, which provides a lump-sum payout upon diagnosis of covered conditions, ensuring greater financial protection. The company is known for its efficient claim settlement process, supported by a strong service network and a high settlement ratio. With simple onboarding, transparent benefits, and quick claims resolution, IndiaFirst Life stands out as a trusted partner for securing group insurance coverage.

How to Buy the Best Term Insurance Plan in India?

Group Life Insurance FAQs

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Basics

Premium

Policy

Eligibility

Claim

What are group insurance and its features?

Answer: Group insurance plans cover a predefined group of people for specific risks. A group could include members of a workplace, professional association, cultural association, housing society, banks, holders of the same credit cards, etc.

A group insurance policy may offer group life insurance, health cover, personal accident insurance, and group travel cover. IndiaFirst Life also provides group life insurance plans that serve the dual purposes of insurance and investment.
While different group insurance plans serve different functions, these are some of the basic features of the plans:
With a group life insurance policy, a predetermined sum assured is paid out to the employee/beneficiary's family members in case of the employee's untimely death while still being a part of the group.
In case of a member's demise, while the group life insurance policy is in effect, the sum assured received as death benefit can be used to clear liabilities such as outstanding loans o dues.
Group insurance plans that include a superannuation component offer the benefits of a retirement plan that can be used after an employee/member has retired.
Group retirement and growth solutions invest future liabilities towards employees (such as leave encashment and gratuity) to create a corpus for an employee's financial goals post-retirement.
Post-five years of service, a gratuity amount is owed to an employee, as per relevant laws. Group insurance plans help create investment avenues so the gratuity corpus can grow.

How many employees do you need for group insurance?

Answer: The minimum number of employees needed to qualify for a group insurance policy differs according to the chosen group insurance plans. Some plans may require a minimum of 7-10 members to issue a group life insurance policy or health plan. Others may need a larger group size of at least 50 to give a group insurance policy.

Which is the best group insurance policy?

Answer: The best group insurance policy depends on your organisation’s needs, employee demographics, and desired coverage. Plans offering a balanced mix of life, health, accidental, and critical illness benefits with flexible riders tend to be ideal. Policies with affordable premiums, efficient claim support, and scalability, like those from reputed insurers, are generally preferred by businesses seeking long-term value.

What is a group insurance plan?

Answer: A group insurance plan is a single policy that provides collective coverage to a group of people, such as employees of an organisation or members of an association. It typically covers life, health, or accident benefits at a lower cost per person, thanks to risk pooling. These plans often come with simplified enrollment and optional add-ons for enhanced protection.

Can I customise a group insurance plan?

Answer: Yes, most insurers allow customisation of group insurance plans. Employers can choose the type of coverage (life, health, accidental), add riders like critical illness or disability, adjust the sum assured, and extend benefits to dependents. Customisation helps organisations balance affordability with adequate protection, tailoring the policy to employee needs and company budgets.

How many members are required to buy a group insurance policy?

Answer: The minimum number of members required varies by insurer, but most group insurance plans in India need at least 7 to 10 members to qualify. Larger groups enjoy lower per-person premiums due to better risk distribution, making group insurance a cost-effective solution for businesses or associations.

What is the difference between health insurance and group insurance?

Answer: Health insurance specifically covers medical expenses like hospitalisation, surgeries, and treatments. Group insurance, on the other hand, can include health coverage but also provides life, accidental, and disability benefits under one master policy. While health insurance focuses only on medical costs, group insurance offers broader, multi-risk protection for a group at reduced rates.

Why do companies prefer choosing group insurance plans?

Answer: Companies prefer group insurance because it is cost-effective, easy to manage, and enhances employee satisfaction. It helps businesses provide valuable life, health, and accidental coverage to employees at lower premiums, boosting morale and retention. The simplified onboarding and faster claims process also make group insurance convenient for both employers and employees.

What is the difference between insurance and group insurance?

Answer: Individual insurance is purchased by one person, offering personalised coverage and premium rates based on their age, health, and risk factors. Group insurance, however, covers multiple people under a single policy, typically at lower premiums due to risk sharing. It’s usually sponsored by employers or associations, offering streamlined enrollment and broader coverage options.

Is group life insurance a taxable benefit?

Answer: Whoever pays the premium amount for the group life insurance policy is eligible to apply for a tax deduction while filing their taxes. If the employer pays the entire premium amount, the organisation can claim the group life insurance premium as a taxable benefit. Since the employees or group members have not made the premium payment, they cannot claim the amount in their tax returns.

How is group life insurance premium calculated?

Answer: Group life insurance premium rates are very low as compared to individual insurance premium rates as the insurer's risk is spread out amongst a large number of people. Suppose the policy purchaser, i.e., the owner or manager pays the group life insurance policy premium and offers. It as a service benefit to the members. In that case, there is no cost associated with it for the group members.

The group life insurance premium is calculated based on factors such as the total expected claim cost, expenses, commissions, taxes, group size, required risk and profit margin, and applicable discounts.

What goes into pricing of a group insurance plan?

Answer: The cost of a group insurance plan depends on factors like group size, average age, health profile, coverage type, sum assured, and any life insurance rider added. Claims history and industry risk also affect rates. Insurers use insurance premium calculators to determine affordable, tailored premiums.

Is group life insurance a taxable benefit?

Answer: Whoever pays the premium amount for the group life insurance policy is eligible to apply for a tax deduction while filing their taxes. If the employer pays the entire premium amount, the organisation can claim the group life insurance premium as a taxable benefit. Since the employees or group members have not made the premium payment, they cannot claim the amount in their tax returns.

How is group life insurance premium calculated?

Answer: Group life insurance premium rates are very low as compared to individual insurance premium rates as the insurer's risk is spread out amongst a large number of people. Suppose the policy purchaser, i.e., the owner or manager pays the group life insurance policy premium and offers. It as a service benefit to the members. In that case, there is no cost associated with it for the group members.

The group life insurance premium is calculated based on factors such as the total expected claim cost, expenses, commissions, taxes, group size, required risk and profit margin, and applicable discounts.

What goes into pricing of a group insurance plan?

Answer: The cost of a group insurance plan depends on factors like group size, average age, health profile, coverage type, sum assured, and any life insurance rider added. Claims history and industry risk also affect rates. Insurers use insurance premium calculators to determine affordable, tailored premiums.

Who is eligible for group insurance?

Answer: Group insurance is available to members of a recognised group, such as employees of a company, members of professional associations, credit societies, or borrower groups. Most insurers require a minimum of 7–10 members, with coverage extended collectively under a single master policy.

How to claim group insurance?

Answer: To claim group insurance, notify the employer or policy administrator, fill out the claim form, and submit required documents like ID, medical or death certificates, and policy details. The insurer reviews and processes the claim, ensuring eligible payouts reach beneficiaries quickly through a streamlined claim settlement process.

Customer Reviews

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Hassle-Free Onboarding Process

From the onboarding process to the comprehensive medical tests, IndiaFirst Life ensured a hassle-free journey for me. The features of the plan I purchased are as per my expectations, providing me with peace of mind for future.

Mohit Agarwal Mumbai

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