Group life insurance is provided as part of a complete employee benefit package. The cost of group coverage is considerably less than what the employees or members would pay for a similar amount of individual protection.
Group Life Insurance helps employers to protect their employee's family if an employee dies whilst in service. It is a simple way in which employers can help their employees prepare for the unexpected.
In the event of a premature death or disability, the policy pays a lump sum benefit. The policy can also provide a pension for the employee's spouse or other dependants, ensuring a flow of income.
- Choice of benefits offered - lump sum or as a pension.
- Ability to choose which categories of staff is covered. You can include all employees or specific categories such as those of a certain staff grade.
- A simple set-up procedure with no forms or medical histories required if benefits do not exceed our generous Free Cover Limits
- Advantages of Group Life plans : Death or disability by “any cause” is covered , Worldwide , 24 hours including annual leave. Members are automatically covered up to Free Cover Limit without medical questionnaires.
- Benefits covered :
- Death by any cause.
Amount equal to sum assured is payable on death due to accident or sickness, sum Assured can be in multiples of salary (12/24/36) or a flat amount.
- Permanent Partial Disability (Due to Accident or Sickness)
Due to Accident or Sickness – a % of sum assured payable as per scale.
Age limit: Accidental injury before attainment of age 65; sickness disability before age 60.