Group Security Plan
Centred on employers by protecting the employer / group against demise or disability of insured employee(s) / members.
Introduction
Centred on employers by protecting the employer / group against demise or disability of insured employee(s) / members.
Features
• Annual renewable policy
• Policyholder: Affinity Groups, Company or Employer
• Individuals who are fully employed or on contract or is a member of the policyholder.
• Minimum number of people required as a group to purchase the policy is 10. A group of less than 10 attracts individual rates on age basis.
Benefits
- Death benefit paid to policyholder/beneficiaries of insured members in the event of death.
- Optional (rider) benefits:
- Permanent Total Disability (PTD): Provides a 24-hour protection for all members and pays compensation based on degree of incapacitation.
- Medical Expenses Cover: This covers costs associated with the treatment of injuries or reimbursement for medical expenses related accidents sustained by members below 60 years.
- Critical Illness: Members are covered for a defined sum assured in the event of a member contracting one of the specified conditions 60 days after inception of the policy.
- Dependants Benefit: Death cover is extended to the insured members direct dependants (i.e. Spouse, Children and/or Parents).