Group Term Insurance

One of the many ways for companies and organizations to retain their employees is to provide them with benefits and incentives. Group Term Insurance can be an excellent form of perks and benefits for their employees.

Group Term Life Insurance is a type of term insurance in which companies or groups or institutions offer coverage as a benefit to employees. Group Term Life Insurance is relatively inexpensive compared to individual life insurance.

Group Term Insurance is meant for companies, organizations, firms, and institutions.

BENEFITS

Protection

Disability Benefit

SA upon death

Eligibility

• Sum Assured: Nu 10,000 – Nu 500,000
• Term: 1 year
• Addition of new member: Anytime within policy term.
• Employee Separation: Risk coverage terminates from the date of separation.

Benefits

• Sum Assured shall be paid at the time of demise of a member.
• Permanent disability is covered under the plan provided the employer has opted for the coverage.