GROUP LIFE ASSURANCE BENEFIT

The Group Welfare Assurance Plan offers your family financial protection in the event that you are no longer able to provide for them due to death, permanent disability or critical illness in which case a lump sum shall be paid to your beneficiaries as income. The policy provides life insurance cover on the life of the policyholder and pays the sum assured as income replacement benefit.

The policy provides two options of cover:

  • BASIC OPTION (death, total permanent disability).
  • PREMIER OPTION (death, total permanent disability and critical illness)

DETAILS OF BENEFITS UNDER THE GROUP LIFE SCHEME

DETAILS DEATH BENEFIT TOTAL DISABILITY PERMANENT PARTIAL DISABILITY CRITICAL ILLNESS
DEFINITION fact of dying or being killed the inability to work because of illness or injury unable to perform at full physical capacity because of illness or loss of a part of the body A life-threatening illness
OCCURRENCE Accidental and Natural Accidental or illness Accidental or illness if the life insured suffers any one of these conditions Stroke, Cancer, Heart Attack, Paralysis or Major Organ Transplant
BENEFIT maximum benefit of 100% of the sum assured maximum benefit of 100% of the sum assured payable according to the partial debility scale maximum benefit of 50% of the sum

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