This compensates the estate the sum assured in case of death of the insured. The policy will ensure financial continuity of the estate in the absence of the deceased who happens to be the bread winner.
Group Life is an insurance policy that is offered to businesses. It is a unique life insurance product designed to offer protection to employees throughout their employment up till retirement. This policy is becoming a common incentive offered by employer to its employees. What does it cover?
- Death
- Total Permanent Disability
- Partial Total Disability
- Temporary Disability
- Critical illness
- Last expense
- Medical Expenses
- Accumulated Cash and Bonus at Retirement
This is a very important policy as it ensures financial cash flow after retirement. As you are aware, it is always difficult for a retiree to put up normal life without an assurance of earning at the end month. It has resulted in to death in some cases due to financial frustrations.
The policy protects the lender in case the borrower dies during the period of servicing the loan. This policy is available for Saccos, Micro Finance institution or any other registered lenders. The Loan can be insured under a one year term (loan guard) or under a long term insurance arrangement (Member Participation Insurance Plan)
Requirements
The Proposer is expected to submit the total value of the motor vehicle/ Cycle alongside their respective Logbooks and Pin Number for quotation purposes. More so, advice would be freely given on the prevalent benefits attached to alternative insurance covers for ultimate protection and client’s satisfaction.