Group Life Plan

Main features of the plan

The Group Life Plan offers life protection at relatively low cost and can be combined with disability covers, critical illness and repatriation benefit. Our Group Life Plan is tailor-made for business organisations employing at least a workforce of ten employees.

The plan provides a sum assured which is generally expressed as:

• a fixed amount; or
• a multiple of the basic salary of your employees.

The plan is renewable on an annual basis to cater for any changes to your workforce.

Benefits to your organisation

• A Group Life Plan helps you overcome the difficult and emotional question of whether you should provide financial support to the family of an employee who passes away.
• The Plan is important in attracting and retaining high quality staff.
• You can provide valuable benefits to your employees at a reduced cost without any underwriting up to a certain level of life cover – this is our Free Cover Limit.
•  Administration involved is minimal.
• The Group Life Plan provides your employees with peace of mind, together with financial security for their families.
• The Plan is a relatively low-cost life, disability and critical illness cover should death, disability, or sickness occur during the period of employment.
• In most cases, your employees do not need to complete an application form and no questions are asked.
• Your employees can utilise the policy as security against a loan, with the authority of the organisation.
• The benefits will normally be paid immediately and are not taxable under current legislation.

Group life is also available to professional associations such as medical, legal, architectural, engineering, accounting, teaching, or trade bodies. It can also cover other groups like business associations, trade unions and sporting clubs. This plan will help you retain existing members of your association, as well as attract new ones.

What other benefits can I choose?

• Death (any cause)

• Accidental Death
  In the event of death due to an accident, an additional sum equal to the basic sum insured shall be paid.

• Permanent Total Disability – own or similar (accident or sickness)
  A lump sum benefit, equal to the sum insured, shall be paid should an insured employee become totally and permanently disabled due to an accident or sickness.

• Permanent Total Disability – own or similar (accident only)

• Permanent and Partial Disability (accident or sickness)
  In case of loss by physical separation of any limb or part of the body or total and irrecoverable loss of sight as set out in the scale of benefits, a percentage of sum insured as per scale shall be paid should an insured employee become permanently and partially disabled due to an accident and/or sickness.

• Permanent and Partial Disability (accident only)

• Permanent and Partial Disability (sickness only)

• Temporary Total Disablement (accident)
  In the event of the insured employee becoming totally unable to follow his normal occupation because of continuous and total disablement due to an accident, a percentage of the sum insured shall be paid according to the continental scale.

• Repatriation
  In the event of death, the repatriation costs of the body or mortal remains to the home country of any deceased employee, (for work related travelling only), including the expenses of the accompanying person shall be paid. This benefit is limited to a maximum amount.

• Critical Illness (accelerated)
  This option guarantees the payment of  a sum should the life insured be diagnosed with any of the following conditions: heart attack, coronary artery by pass, stroke, life threatening cancer, blindness,  bone marrow transplant, loss of hearing and speech, organ transplant, paralysis and third degree burns.

 Interested in learning more about our group life policies? Get in touch, and one of our representatives will be happy to offer more information.