| GROUP LIFE INSURANCE |
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For an employer who cares for his employees |
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| What is a Group Life Insurance? |
Group life insurance policies cover a group of individuals sharing a common link eg employees of a company. The cover for the group works out cheaper than taking an individual cover for each person.
In general a group life insurance policy is the icing on the cake of a benefits package. Unlike Keyman insurance policies, group life covers all employees of the company. |
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| What is the purpose of Group Life Insurance? |
The scheme is to provide for the payment of a benefit to a nominated beneficiary(ies) or the estate of the insured in the event of death.
There is also the option to provide for the payment of a benefit to the insured in the event of permanent disability or upon diagnosis of a critical illness. |
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| What is the difference between Group Life Insurance and an ordinary life insurance? |
A Group Life Insurance policy is usually purchased by a company for its employees, as part of a benefits package. On the other hand, an ordinary life cover is taken on own life or on the life where the policyholder has insurable interest. |
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| What are the features of Group Life Insurance? |
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Policyholder is the employer |
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Insured is the employee |
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Low Cost, with premium guarantees |
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Renewable annually |
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Risks Covered: |
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Death |
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Total & Permanent Disability (TPD) |
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Dread Disease (Stroke, Heart Attack, Cancer, Renal Failure, Blindness, Organ Transplant, Paraplegia) |
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Policy Term: Minimum of 1 Year |
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Premium/Sum Assured expressed in terms of salary |
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| What is the information required to prepare a quote? |
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Scheme start date |
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Employee details (DOB, Gender, Salary) |
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Level of cover, eg 24 × monthly salary |
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Type of cover (Death, TPD, Dread Disease) |
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Type of work (manual, clerical, etc…) |
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Disability definition (own or similar occupation/ any occupation) |
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| Who can apply? |
| Any company registered in Mauritius. |
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| Why choose Group Life Insurance (GLI)? |
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You can opt for a GLI package tailored to your specific needs |
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Cover is renewable every year, with optional guarantees and experience refund |
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GLI membership and claims procedures are straightforward |
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GLI bolsters a company’s image as a caring employer |
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GLI provides peace of mind for employer, employee and their loved ones |
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| For further details, please contact our Group Life Insurance Division – 800 1000 |
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