Group Term Life Insurance

PRODUCT  FEATURES

The primary purpose of this coverage is to provide the insured with benefits for death and total permanent disability arising from sickness or accidental cause.

This cover is extended 24 hours a day worldwide.

Employees under 65 years of age are entitled to join the scheme.

BENEFITS

Death caused by disease (optional)

In the event of death of an insured member caused by disease during the period of insurance, the sum assured shall be paid as a death benefit to the surviving beneficiary.

Death caused by accident (optional)

In the event of death of an insured member caused by accident during the period of insurance, the sum assured shall be paid as a death benefit to the surviving beneficiary.

Total and Permanent Disability Benefit (Optional)

In the event that an insured person suffers from total or permanent disability, the sum assured will be paid within two years in the following manner:

Upon confirmation of disability, 10% of the sum assured will be paid immediately;

One year after disability, another 20% is paid;

Two years after disability, another 70% is paid;

In the event of the death of the insured person during the first 2 years the outstanding balance of the sum assured (if any) will be paid immediately.