Group Life

Group Life Assurance is a life assurance policy which provides death-in service benefits to the employees in common employment of an Organization or a group of people like Association, Clubs etc under similar exposure. It provides a lump sum payment (money) to the beneficiary (ies) of a deceased member of the scheme.

 Provision of a group life assurance scheme goes a long way towards demonstrating an employer’s genuine care for staff welfare as well as encouraging loyalty and reassuring staff that they are valued

For Whom
Group Life Assurance policy is open to employers of labour, clubs, associations, unions, religious groups, cooperatives and other friendship and social organizations e.t.c who exist  as a group.
The Pension Reform Act 2004 made it mandatory for all employers of labour having up to five employees to maintain a Group Life Assurance policy for at least 3 times of their annual total emolument.


Cover Provided

  • Death - The policy provides for the payment of the sum assured in the event of the death of a member of the scheme from any cause, natural and accidental.
  • Disappearance (Presumed Death) - The policy also provides for the payment of the sum assured for those in common employment in the event that an insured person disappears and is not seen for a period of 12 months and there is sufficient evidence to assume that the member is dead. However, the person receiving the sum will sign an undertaking to refund it if the missing person is subsequently found to be living.

Benefits  Payable

In the event of the death of a member of the scheme, the sum assured designated for that  member becomes payable.


  • It is a yearly renewable term assurance
  • A single master policy and certificate are issued covering all the members
  • No medical examination for sums assured below our free cover limit
  • It is flexible; members can join or leave the scheme at any time 
  • The sums assured/benefit are at least 3 times the annual total emolument for those in employment, and any required flat/level benefit for other groups
  • The policy coverage is worldwide
  • Minimum age at entry is 18 years
  • It gives peace of mind
  • It is a without profit Life Assurance policy
  • Sum assured or benefit is payable only on death or disappearance
  • Premiums are paid by the Employer/Organization

Conversion Option
A person, who ceases to be a member of our Group Life Scheme, can convert it to an Individual Life policy for the same sum assured without undergoing any medical examination. The new policy will then be administered in line with our individual life policies.

Additional Optional Benefits

The following additional but optional benefits can be taken alongside IGI Group Life:

Group Personal Accident (GPA) - Payments of the pre-determined sums will be made if as a result of accident, the insured person incurs or suffers:
Total Permanent Disability - In the event that an insured person becomes permanently disabled as a result of an accident resulting in him/her not being able to pursue his/her usual occupation, profession or trade in which he is skilled for remuneration, profit or reward, the sum assured will become payable
Temporary Total Disability - If as a result of an accident, an insured person is temporarily and totally disabled from engaging in or giving attention to his/her usual occupation/profession, compensation for such disablement will become payable according to pre-determined rates. The compensation payable will be for a period of 52 or 104 weeks  Medical andSurgical Expenses - If an insured person incurs medical expenses resulting from an accident anywhere in the world, the medical bill will be offset by the policy subject to the adequacy/limit of the sum assured under this heading

Funeral Expenses- You can remove the burden of your funeral/burial expenses from your family by insuring to the full value of your expected funeral cost, like cost of casket, undertaker’s expenses and even cost of entertainment of guests. The amount insured becomes payable on death.

Repatriation Expenses - Our group life policy provides a 24 hour coverage wherever you are in the world. With the uncertainty of not knowing where the unexpected will happen, you can provide for the cost of repatriation of your body to your desired place 0f "resting in peace" should death occur outside the country or far away from your desired place  of rest.



Term Assurance

This is a form of Life Assurance policy which is usually for a short period (eg 5, 10 of maximum of 15years). It provides a life assurance cover by payment of the policy benefit only if the life assured dies during the period of the cover otherwise, no benefit is payable. The maximum age for this type of policy is 65years.



Whole Life Assurance

This provides life assurance cover for the whole of the insured's life time and becomes payable upon the death of the assured irrespective of the age or length of life. Unlike Term Assurance, it is not for a specific period of time.




This is an investment linked life assurance policy for a fixed period usually 5, 10, 15 or 20years. The policy benefit is payable either at maturity or upon death of the life assured, whichever comes first.




This is an investment linked life assurance policy for a fixed period usually 5, 10, 15 or 20years. The policy benefit is payable either at maturity or upon death of the life assured, whichever comes first.