Upon death, your family may ‘inherit’ your outstanding debt, such as your mortgage bond or personal loan. If you do not have life insurance to cover these unexpected loan repayments, it may result in some forced selling of your possessions. This is why a death benefit is vital. It provides your family income and financial security when you no longer can. In the event of your death, the life cover can be used to repay debt and any outstanding loans and help cover the living costs of your immediate family.

Our Group Life Assurance Benefit will provide an employee’s loved ones with much-needed financial relief in case of the employee’s death. This benefit covers small, medium, or large companies’ employees in the event of death whilst employed. The benefit will equal the employee’s annual salary at death multiplied by a number chosen by the employee’s company to ensure that your family are cared for upon your death.

Our Group Life Assurance Benefit can pay up to 10 times your annual salary.

This benefit is payable to the employee’s chosen beneficiaries as a lump sum.

The employer can also choose to add on to this benefit. These include:

• Critical illness cover: This offers an early payment of a portion of the cover if the employee is diagnosed with a terminal illness with a life expectancy not beyond five months.
• Spousal Group Life Assurance: This additional cover for the employee’s spouse is offered at a lower rate, with no underwriting. Cover is up to M500,000.

Additionally, our Group Life Assurance has a free legal benefit covering a member up to five legal consultations annually.