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Group Life

What Is Group Life Policy?

As an employer, it is important to provide a good insurance cover for your employees. Britam has developed an innovative Group Life Insurance solution which is ideal for corporates, parastatals and government agencies, SMEs, Saccos, education institutions and religious bodies with the following features and benefits:

What are the benefits of Group Life cover to employers?

  • Financial certainty since risks has been transferred to insurer.
  • Boosts employee morale and increases job satisfaction and motivation.
  • Enhances staff retention to an employer
  • Attracts good talent due to the improved benefits.

What are the benefits of Group Life cover to members?

  • Members can carry on their day today duties with knowledge that their beneficiaries will be well taken care of incase their untimely death.
  • The member can access the funds to pay for medical expenses for some critical conditions.
  • The dependents can access funds to pay school fees and education related expenses in event of untimely death of the employee.
  • The family of the deceased member can also use funds in the policy to clear loans, pay deposits for car, house etc.
  • A member can also use the funds to purchase mobility aids such as wheel chairs, artificial limbs etc. in case of disability.

What Is The Scope Of Group Life Cover?

Primary death benefit

The policy provides cover against death due to accidental and natural causes. The benefit is payable to the employer for onward transmission to the nominated beneficiaries.

The level of cover to be offered is based on a multiple of annual salary subject to medical examination (see provision on Free Cover Limit below) where applicable.

 

Free cover limit

We offer a generous Free Cover Limit. This means members whose sums assured fall within this limit will not be required to undergo medical examination.

Critical illness rider

A Free Critical Illness benefit equivalent to a percentage of Group Life sum assured subject to a maximum of Kshs. 12,000,000 per person is payable on the first time diagnosis of any of the following diseases; heart attack, stroke, cancer, coronary artery disease surgery, major organ transplant, kidney failure, paraplegia or paralysis.

Last expense benefit

An optional Funeral Expense Benefit of up to Kshs. 200,000 per person can either be purchased separately or be taken as an advance payment of the main Group Life benefit. Spouse and children of the staff members can also be covered at a minimal cost.

Disability benefit

An optional disability benefit can be included into the cover to ensure a payout in case of a permanent total disability occurring to an employee.

Combined Group Life, GPA/WIBA cover

This is a product targeted at SME’s and aims to reduce the cost of insurance while increasing the benefits to the insured. It seeks to reduce the duplicity among the Group Life, Group Personal Accident/WIBA covers hence minimizing on the cost. It is also easier to administer.

Our cover does not exclude passive war, riots, terrorism and related risks

What are requirements for a quotation?

  • Name of employer
  • Number of employees
  • Monthly salary details
  • Dates of birth of employees
  • Scope and level of cover needed

How do you commence on Group Life Cover?

  • The employer completes a group proposal form.
  • Employees complete individual enrolment forms
  • The employer provides soft copy payroll data.
  • Payment of the premium. 

For more information on this product, kindly get in touch with us or visit any one of our branches.