Group Life Assurance

Group Life Assurance Policy Scheme provides benefits for dependents of deceased employees who die while in services of their employers. The Sum Assured is usually arranged as a multiple of the employees' Total Emolument. The Total Emolument entails the following Basic Salary, Housing Allowance and Transport Allowance. The Pension Reform Act of 2004 stipulates minimum of multiple of 3 Total Emolument as minimum cover. Cover continues as long as the employee continues to work for the employer. The premium is paid by the employer.

BENEFITS:

• The cover provides a cash sum on the death of the life Assured to stated beneficiary/ beneficiaries.
• The policy covers Death either Natural or Accidental.
• It may be extended to cover Personal Accident (Permanent Disability, Temporary Total Disablement & Medical Expenses).
• It may be extended to cover Funeral/Burial Expenses.
• It may be extended to cover named Critical Illness.
• It may be extended to cover Clubs, Society and/or Group of Society.