Group Life Assurance

Group Life

Group Life Assurance Cover Provides Financial Protection against premature death while in service i.e. in the event of any employee dying while still in active service of the employer. More importantly, the financial burden created as a result of the death of a breadwinner cannot be under estimated. As a result of this, employers are utilizing a Group Life Assurance Scheme to provide immediate financial compensation to the estate of a deceased employee following the death of their breadwinner (employee).

Benefits:
  • It periods cover for three (3) times of the insured total emolument as death benefit
  • The cover is the cheapest form of life assurance policies.
  • The premium (cost) will be regarded as an expense for tax purposes.
  • The underwriting of the risk is favorable when compared with the stringent conditions under individual life assurance policy.
Information Required:
  • It periods cover for three (3) times of the insured total emolument as death benefit
  • The cover is the cheapest form of life assurance policies.
  • The premium (cost) will be regarded as an expense for tax purposes.
  • The underwriting of the risk is favorable when compared with the stringent conditions under individual life assurance policy.

To enable us do the appropriate costing and make recommendation to you on the premium payable, we would require the following data on all the existing employees to be covered:

  1. Full name of employees
  2. Sex
  3. Age/Date of birth
  4. Total Emolument
  5. Commencement date
  6. Name and Address of Employer
Authorised and Regulated by the National Insurance Commission (RIC 023)