Group term life
Group term life (GTL) pays a lump sum to an employee's nominee on death from any cause. It is quoted as a rate per thousand of sum assured, on a flat, salary-multiple or graded basis, and attaches to the same census as group medical — which makes it the cheapest credible second line in an employee-benefits programme.
Quotable — structured intake, technical benchmark, comparison · Updated 2026-09-05
The free cover limit computed at intake, so you know how many lives need medical evidence before the RFQ goes out.
What the RFQ captures
- Sum assured basis — flat, multiple of salary, or a grade table
- Group type and size, which set the free cover limit ladder
- Lives above the free cover limit, counted from the roster
- Riders wanted: accidental death, disability, critical illness, terminal illness
- Actively-at-work status and takeover lives already covered
What changes for the broker
The same employee list that priced group medical prices term life. Bridge reads the roster, applies the sum assured basis, and reports the lives above the free cover limit — the number that determines the underwriting timeline and the thing a client actually asks about. The RFQ carries the rider set and the takeover position so every insurer quotes the same scheme.
Quotes come back as a per-mille rate with the loading stack shown separately — occupation, industry, group size — which is where insurers differ and where the negotiation is.
Alongside
Gratuity, leave encashment and superannuation are funded, actuarially valued schemes. Bridge shows them in the programme view so you see the whole employee-benefits wallet; it does not attempt to rate them.
Questions
How is group term life priced?
As a rate per ₹1,000 of sum assured, from a mortality base with loadings for occupation class, industry and group size. Bridge shows the base and the loading stack separately so you can see what each insurer has added.
What is the free cover limit and why does it matter?
The sum assured below which members are covered without medical evidence. It scales with group size. Lives above it need underwriting, which sets the timeline — Bridge counts them at intake.