Employee Benefit Group Life Insurance
Employee Benefit Group Life Insurance is a part of a benefit package which covers employees or members of an organization. In the event of a claim, the sum insured will be paid to the insured employee, named beneficiary(ies) or trustee.
Features
- Provides coverage for death, permanent disability accidental dismemberment and up to 21 critical illnesses
- Coverage is indexed to salary (e.g. 3-5 times gross annual salary)
Employee handbook available, click here
Eligibility
All loan applicants 18-64 years are eligible.
Enrolment
An enrollment form is completed at the loan application stage. A Certificate of Insurance is returned to the customer as proof of coverage.
Maximum Insurable Limit
There is no maximum limit on this policy.
Termination of Insurance Coverage
Coverage terminates upon full repayment of a loan or settlement of a claim.
