Group International Life Insurance

What is Group International Life Insurance?

Group International Life Insurance works much the same as any business life insurance scheme – except it has been especially designed for companies with employees in different parts of the world.

If any employee covered by the scheme was to sadly pass away, a substantial sum is paid out to their beneficiaries, typically family. The amount paid out will depend on what the employer has stipulated in the policy.

You may also see the policy referred to as International Business Life Insurance, or International Company Life Insurance.

How does Group International Life Insurance work?

As mentioned, Group International Life Insurance pays a lump sum to the beneficiaries of an employee, should they pass away while employed with your business. The company pays a regular premium to the insurance company in return for coverage. 

Unlike single country plans, Group International Life Insurance can cover a multitude of employees across numerous countries. This allows you to put in place, one centrally managed plan, providing a consistent level of benefit and efficient administration which is run via a single contract.

Group International Life Insurance is also useful for globe trotting employees because they can remain on the same plan even if they move from one country to another. 

Employers select how much coverage to offer at the start of the policy. This can either be a specific fixed amount or based on a percentage of an employee’s salary. The most common coverage supplied by businesses is 2x and 4x an employee’s salary, although some insurers will allow up to 15x salary coverage.

For example, if an employee earns 40,000 a year, and is provided with life coverage of 2x their salary, then 80,000 will be paid out by the insurer should the worst happen.

Group International Life Insurance operates straightforwardly but offers various different benefits through a single contract. By acquiring Group International Life Insurance, companies are enabled to secure credit for each employee at a much better price than purchasing an individual policy for each person.

What are the benefits of an Group International Life Insurance policy?

  1. Financial value: As with any insurance scheme, the more employees included, the lower the premium per person. Life insurance is also one of the lowest cost forms of coverage a company can provide to its employees.
  2. Simplified processes: One central plan for multiple people, wherever they are in the world.
  3. International: As above, but worth reiterating that global coverage reduces both cost and complexity of setting up separate schemes in different countries.
  4. Flexibility: The amount paid can either be a fixed amount or based on a percentage of the employees’ salary – this also affects the premium.
  5. Limited medical checks required: In most cases an employee’s medical history does not need to be disclosed as part the premium calculation.
  6. Recruitment & retention: A life insurance scheme with such wide scope will be an attractive proposition to jet-setting employees. It also demonstrates your duty of care to every employee wherever they are in the world.

What are the common exclusions to look out for?

Terms and conditions of a Group International Life Insurance scheme will vary – as with any insurance product. Some of the key exceptions to look out for include:

  • “Red listed” countries: A number of insurers do restrict and exclude coverage for countries which are listed as ‘advised against all travel’.
  • Combatants: An employee ‘actively at war’ will not be covered by the policy
  • Individuals & pairs: The policy will need to cover at least three employers, so it’s not suitable for individual’s and two-person teams.
  • Catastrophic events: All Group International Life Insurance policies will include an upper cap should numerous employees all die in one event, known as a ‘catastrophic event limit’ or ‘single event limit’. The maximum payout will be laid out in the terms.
  • Locally contracted employees: Some insurers will only offer coverage to centrally contracted employees, but it is possible to set up Group International Life Insurance schemes which cover locally contracted employees too. It will depend on the regulatory status of the country in question.
  • Age limits: Generally speaking, Group International Life Insurance providers offer cover for employees up to the age of between 65 and 70. Only in exceptional circumstances will an insurance provider consider offering coverage for older employees.

How much does Group International Life Insurance cost?

The cost of Group International Life Insurance is low compared to many other international employee benefits. The price of a policy is calculated based on a number of factors including:

  • Employee age
  • Employee country of residency
  • Salary roll
  • The fixed benefit, or salary multiple, selected
  • Whether the scheme is compulsory or voluntary
  • Whether you are including coverage for dependants

Due to these variables, pricing can only be provided on a case-by-case basis. However, we have included a few examples of Group International Life Insurance quotes for you below to give you an idea:

Example 1: 15 employees covered, voluntary scheme, no dependants, 3x salary, total sum assured 3,423,178

Price range:7,847 – 10,602

Example 2: 13 employees covered, compulsory scheme, no dependants, 4x salary, total sum assured 2,546,915

Price range:4,037 – 5,226

Example 3: 35 employees covered, voluntary scheme, no dependants, 4x salary, total sum assured 6,857,079

Price range:10,325 – 13,367


We have many years’ experience that specialise in putting together effective employee benefits plans. To find out how we can help you, please complete the brief questionnaire below and we shall get back to you promptly. Or just email us.


Total protection and security  for your employees

Group International Life Iinsurance provides the most comprehensive benefits and services for your employees.

By including additional support and benefits such as upfront payments, child chaperone, bereavement counselling and repatriation, your staff can be confident that their life insurance benefits are there to give them peace of mind, no matter where they are in the world.

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