Tata AIG Life Insurance will extend insurance cover to 15,930 employees of Wipro for a total sum assured of Rs 876 crore.

Tata AIG would provide a group term life insurance cover to IT company employees. Wipro has chosen option whereby the sum assured is based on employee's grade in the company, Tata AIG said in a release here today.

"Employee life coverage is fast becoming a standard feature of corporate employee benefit pacakge and goes a long way in encouraging loyalty", Tata AIG Life managing director Ian Watts said.