Is an assurance that pays out the sum assured in the event the assured dies while in active service of the employer. This is also an employee benefit product. In case of death, multiple of the employee’s annual salary or a fixed benefit is paid to the beneficiary/ies. We also provide Group Credit Insurance which covers loans from co-operative societies or banks taken by members. In case of death, either the total loan amount or reduced sum assured is paid depending on the policy conditions.
- Permanent total disability- if an employee is permanently disabled, a proportion of his salary will be paid in monthly equal installments over a specified period e.g. 5 years. The purpose is to protect the insured (employee) against loss of income as a result of illness or injury.
- Last Expense – this is an amount that is paid in case a member dies to cater for funeral expenses. The amount should be paid within 48 hours on receipt of notification of death.
- Critical illness rider – paid out in the event a member is diagnosed with an ailment considered critical as per the policy definition
- Total and permanent disability – lump sum benefit paid in case a member is totally and permanently disabled
