LIC – Life Insurance Products

Group Life Insurance

Life cover for the members of a group, such as the employees of a company or a society.

How we help

A group policy is taken by an organisation, called the master policyholder, to cover its members. If a member dies while covered, the benefit is paid to their nominee.

Cover is usually renewable each year and is often tied to membership, so it may end if you leave the organisation. It is a useful base layer of protection but is rarely enough on its own, so we look at what personal cover you would still need.

For employers, we help compare schemes, set the cover for each member and explain how members are added and removed.

What it covers

Life cover for a group of members
Arranged through an employer or organisation
Benefits subject to scheme terms

Policy benefits, eligibility, premiums, and terms vary by insurance product.

Before you decide

Points to check

01The cover amount per member and how it is decided
02Whether cover ends when a member leaves, and whether it can be continued
03The premium and who pays it, the employer or the members
04Whether additional benefits, such as accidental death cover, are included

Common questions

What people ask us about Group Life Insurance

Is group cover enough on its own?

Usually not. The amount is often modest and may end when you change jobs, so most people also hold an individual plan.

What happens to my cover if I leave the company?

In most schemes it ends when your membership ends. Some schemes allow conversion to an individual policy. We check the scheme's terms.

Who can buy a group policy?

Organisations such as employers, cooperative societies and associations, subject to the insurer's minimum group size and conditions.