Group Life Assurance is a term assurance cover provided to a group of people. The group must exist for purposes other than insurance. The Group Assurance is relatively cheaper as compared to Individual Schemes due to group discounting. For those members whose Sum Assured is higher than the Free Cover Limit provided, they will be required to undergo medical tests as a requirement for the cover above the limit. Ninety (90) days will be allowed during which the members described above will decide to provide medical reports. After which, cover for all members who will have not complied will be reduced to FCL and any unutilized premium refunded. The cover is available for as long the life assured remains a member of the group. The minimum age at entry is 18 years while the maximum age has been set at 65 years.

Benefits under Group Life Assurance Scheme

The main benefit under this cover is the death benefit. Upon death of covered member the selected Sum assured is payable. The amount of benefit payable can be on a fixed sum basis or based on a multiple of salary. E.g. one year, two years, three years, four years up to eight years.


The riders available under the Group Life Assurance include:-

  • Permanent Total Disability – Permanent disability is defined as disability resulting from bodily injury or disease which disability wholly prevents the Life Assured from engaging in any and every business or occupation and from performing any work for compensation or profit and which disability has continued uninterruptedly for a period of at least six months (such disability of such duration being deemed to be permanent only for the purpose of determining the commencement of liability hereunder). The Company, however, will recognize as total and permanent disability the entire and irrecoverable loss of the sight of both eyes, or of the loss by severance of (1) both hands above the wrists or of (2) both feet above the ankle or of (3) one hand above the wrist, and one foot above the ankle.
  • Last Expense – This provides an initial amount for meeting the cost of burial for the insured member.
  • Critical Illness – A percentage of sum assured under GL on first diagnosis of conditions including Heart Attack, Coronary Artery Surgery, Stroke, Cancer, Renal Failure, Aorta Surgery, Replacement of Heart Valve, Paraplegia, Blindness, and Major Organ Transplant
  • Total Temporal Disability – This level of disability reflects an injury that has rendered the employee completely unable to perform any job functions on a temporary basis. The employee is expected to make a full recovery and return to work. In the interim, compensation paid is usually a percentage of or, weekly wages until the worker returns to the job subject to the set limits.