Most professionally-run companies today provide Group Life Insurance as part of their Employee Welfare program. However, each company customizes the plan based on their employee demographics.
Group Term Life Insurance can help in fulfilling a family’s current and future financial needs. It provides economical group rates to help protect a family's income in case the unthinkable happens.
Group Life Insurance provides income for your family members in the event of death or disability.
Persons covered under Group life insurance are not rated individually but instead have a common rate applicable to the whole group of persons covered.
- Death any cause: Capital sum insured is paid in the event of the death of the insured.
- Permanent Total / Partial Disability: In the event of permanent or total partial disablement following an accident or sickness, an amount equivalent to / percentage of Capital Sum Insured is paid to the covered person.
- Temporary Total Disability: In the event of temporary total and continuous disablement following an accident, or sickness, you are paid a weekly indemnity for a period of 52 - 104 weeks.
- Accidental Death: To provide additional benefit in the event of the accidental death of the insured.
- Medical expenses
- Expenses for repatriation of mortal remains
- Critical illness benefit
- Passive war
- Ship and Air crew
- Offshore workers
- Participation in hazardous sports
- War, sabotage and Terrorism
You have the option to select a sum insured up to a maximum of 5 times the annual salary of any employee.
In addition, you can have a fixed sum insured for a particular category of employees or apply one sum insured for more than one category of employees.
The limit for coverage of medical expenses and repatriation expenses is normally up to a maximum amount of AED 10,000 per person.
Tailor-made policies can be designed to suit the requirements of the group.
Period of Insurance
The coverage is usually provided for a period of one year.
Temporary Total disability benefit is subject to a time deductible.
Medical expenses benefit may be subject to a monetary deductible applicable for each and every loss.
Premium rates are based on:
- The capital sum insured per person
- The total sum insured of the policy
- The average age of the group
- The occupation of the persons covered
- The benefits opted
- Policy deductibles
- Geographical area to be covered
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
For more information, please contact Nasco Dubai at +971 4 352 3133.