Group Life Insurance Policy

1. What does group life insurance policy cover?

A group life insurance policy provides a death benefit to the beneficiaries of insured members. The policy is usually taken by employers to cover employees. Cover is usually based on a number of years salary.

2. Why do i need group life insurance policy?

Group life insurance helps employers or an affinity group to ease the financial distress that might befall dependents of an employee/member upon their death. The family's financial future is secured as the benefits are paid in case the member dies. Group life provides peace of mind and financial protection to employees and their families.

3. What are the benefits group life insurance Policy?

Group life insurance offers affordable coverage in the event of death since premiums are usually lower than individual policies due to the collective nature of the plan. It also helps employers to attract and retain high caliber and skilled employees. Group life policies offer last expense as an additional benefit to cover funeral costs in the event of death of an employee. The lumpsum payment ensures funeral costs are handled without financial strain.

4.What document will I get after buying group life insurance cover?

After buying group life insurance cover, you will receive a policy document which is a written contract of insurance between the insured and the insurer. It contains terms and conditions of the insurance cover as well as the risks covered. Ensure you read and understand the contents of your policy document.