Cover can be based on either a multiple of annual salary or as a fixed sum assured across all members
Group Life Cover is a single, annual policy covering a group of individuals and typically the policy owner is an employer or other entity such as an affinity network.
It often forms part of an overall employee benefit package and in many cases the cost of group coverage is less than the cost of setting up similar individual protection.
Underwriting is normally less strict than for individual cover and a free medical limit, up to which no medicals are required, is usually available. Disability and Critical Illness benefits can also be added depending on the profile and residency of the members of the group.
Each life assured receives a certificate of insurance that serves as proof of their cover within the group and a nomination of beneficiary form should also be completed to assist with claims.
Usually the employer pays for the premiums on behalf of the members and cover can be based on either a multiple of annual salary or as a fixed sum assured across all members.
Group Life Cover
The policy is a single contract designed to cover a group of individuals for a defined term. If there is a claim on behalf of one of the individuals, we will pay a cash lump sum to the company to distribute to the estate of the deceased.
Critical Illness is an optional benefit which pays a lump sum payment if you are diagnosed with one of the critical illnesses specified in the policy conditions.
An optional benefit which pays a lump sum payment if you become disabled as a result of an accident or illness, as long as the condition meets the disability criteria as per the policy conditions.
Medical Second Opinion
Provides the life assured with free access to specialist hospitals & clinics around the world. This enables you to receive alternative consultation on your condition and/or treatment plan