Features of Group Life Assurance Policy
Death Benefit: It provides cover for a minimum of three (3) times a members total annual emolument as death benefit.
Tax Relief: The premium (cost) will be regarded as an expense for tax purposes.
Affordable premium: The cover is the cheapest form of life assurance policies.
Favourable Underwriting: The underwriting of the risk is favourable when compared with the stringent conditions under individual life assurance policies.
Requirements
- Brokerage Slip/Appointment letter/
- Completed KYPH form
- Copy of Certificate of Corporation of company
- Personal Identity Documents of one of the directors (any of one of the below will suffice)
- i. copy of Data Page of International Passport
- ii. copy of National Identity card
- iii. copy of National Driver’s License
- iv. copy of Voters Card
- Documentary evidence of address (any of one of the below will suffice)
- i. Recent telephone bill
- ii. Recent Electricity bill
- iii. Bank account statement
- iv. Tenancy Agreement
- Evidence of premium payment/Credit note whichever is applicable