I would like to thank Aviva for their continued support and guidance in my policy related matters. I see my fund value increasing with every passing year and have been very happy with my experience.Mr. Vishal Sudha
Group Insurance Plans
A perfect way to ensure the wellbeing of your second family - your workgroup!
Group Life Insurance is offered by companies and organizations to their employees and group members.
Your employees are one of the most important assets of your business. Group life insurance offers financial security to your employees and group members. The group insurance policy offers coverage to your employees based on their annual income. You can choose from scheduled assured sum for your firm and extend that friendly hand to your employees in their tough times.
Our Group Plans
Why Aviva Group Insurance Plans
You must only choose best for the ones who help make your business a successful one!
Your claim comes first
Over last year we settled 98.4 % of all claims made(Individual Business,FY 2021-22)
We are the Most Trusted
Awarded the Most Trusted Life Insurance Brand, 2023
(TRA's Brand Trust Report, India Study 2023)
Straight from our customers
I am delighted by the efforts and customer centricity shown my Team Aviva. I visited India recently to seek guidance on my policy related matters and have no words to express the kind of time and energy they have spent on a single customer like me. Thank you Aviva, I wish you the best!Mr. Parvinder Singh
The why, what & how of Group Insurance
All your questions and doubts answered by our group of experts
Insure your business risks and manage your employees and partners with Group Insurance Plans
Whether you are salaried or self-employed, invest in plans that have it all covered
Frequently Asked Questions
- Group Insurance policy is a single master policy that covers all employees or members of your firm. A group may consist of employees or colleagues from a similar field of work such as lawyers, doctors, as well as members of cooperative banks or credit societies.
A policy can be classified as:
Contributory Scheme: Where both the employer and employees pay a premium towards a group insurance policy.
Non-Contributory Scheme: Where the whole premium is paid by either the employer or nodal agency, which is a direct concerned office responsible for a consultation or execution of the government initiated projects.
- There are two types of group insurance products in the market. You can either choose from Term-Insurance based policies or Fund-Management based schemes.
- Based on your annual gross income and dependents, you can choose from basic, supplemental or dependent coverage.
- Coverage offers assured sum depending on your gross annual income, whereas supplemental group insurance offers 1-3 times your basic coverage. Dependent coverage lets you choose a certain assured sum on your spouse and child based on your marital status.
An organization’s employees and members including partners, proprietors, and full-time employees can request insurance on either an immediate basis or after completing six months of service, whichever option your firm has selected. However, firms having less than 25 eligible employees need to provide evidence of insurability to get the benefits of group policy. Usually, the request for insurance coverage from individuals from your firm is accepted based on their answers to certain questions without further medical evidence.
Under a group life insurance policy, firms can select from scheduled coverage sum. However, the assured sum of coverage for employees is based on their annual income. For your firm’s coverage, you can choose the protection from 1-3 times annual salary based on the selected schedule of coverage. Coverage assured for your employees shouldn’t exceed your firm’s maximum scheduled amount. Proprietors and partners of your firm under a certain age can be covered in group policy irrespective of their earnings.
This is one of the major questions employees have regarding the group insurance policy. Well, if you’re terminating your employment, you can continue your coverage if you wish. For that, you need to convert to an individual life policy. However, you need to either convert or port your policy within a specific time after termination to continue with your life insurance policy.