Group Life Assurance |
Event - Death
Group Life Assurance (GLA) provides life cover payable as a lump sum on the passing away of an employee before retirement. GLA provides the employees with the peace of mind that their family will be taken care of if they are no longer there to support them.
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Permanent & Total Disability |
Event - Permanent & Total Disability
The Permanent and Total Disability benefit pays a lump sum in the event of a permanent disability of an employee before retirement. The purpose of this benefit is to protect the employees against the loss of earning potential, if he or she becomes disabled and is unable to work. The Permanent and Total Disability benefit must be taken together with the Group Life Assurance benefit. |
Permanent Health Insurance |
Event - Permanent Health Insurance
The Permanent Health Insurance benefit provides an employee with a monthly income, in the event of them becoming disabled and unable to work. The benefit is payable until the employees is able to go back to work or until retirement otherwise. |
Temporary & Total Disability |
Event - Temporary & Total Disability
The Temporary and Total Disability benefit is a monthly benefit that is payable for a fixed period. The benefit usually covers a proportion of their salary for 6, 12 or 24 months including the waiting period. The purpose of this benefit is to protect the employees against the loss of earnings or earning potential, if he or she becomes disabled and is unable to work for a limited period. |
Critical Illness |
Event - Critical Illness
The Critical Illness benefit provides cover for the costs associated with living with a defined critical illness (such as Cancer, Heart Attack, Coronary Artery Bypass Graft (CABG), Stroke, Major Organ Transplant or End Stage Renal Failure) by providing a lump sum payment on the first diagnosis of any one of the stated critical illnesses. The Critical Illness benefit must be taken together with the Group Life Assurance benefit.
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Group Funeral
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Event - Death
The Funeral benefit pays out a lump sum in the event the employee, their spouse, children, parents, parents-in-law or extended family (if these options have been selected) pass away before the retirement of the employee.
The following benefits can be optionally selected under the Funeral benefit:
Family Support
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Family Support Benefit
The Family Support benefit provides an additional lump sum on the passing away of an employee. This helps the family deal with urgent costs associated with funeral expenses as well as assisting with the living expenses following the loss of their breadwinner.
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Tombstone
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Tombstone Benefit
The Tombstone benefit pays an additional lump sum should the employee pass away, to aid in providing a tombstone and for the cost of the tombstone unveiling ceremony.
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Credit Life Insurance |
Event - Credit Life Insurance
Credit Life Insurance is designed to pay off the balance of a loan in the event that the policyholder or joint loan holder passes away, becomes disabled, retrenched or suffers a dread disease. These benefits are offered through banks, micro finance institutions and other finance institutions.
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