We offer affordable group life insurance for employees or members of organisations
Group Risk Insurance Benefits can be tailored to suit the needs of various organisations, including banks, businesses, churches, unions, and societies. We offer our clients flexibility in choosing benefits that are appropriate for their needs.
The details of our product offerings are given below.
This is a life insurance product offered to employees of companies, which provides a lump sum benefit on the death of an employee. The benefit is normally expressed as a multiple of the employee’s annual salary, in the event of the death of the employee covered. We can also provide fixed lump sum benefits upon request from the client.
This is a lump sum disability benefit offered to employees of companies. This Occupational Disability Benefit is an add-on benefit attached to a Group Life Assurance cover. The benefit is expressed as a multiple of an employee’s annual salary and is payable upon the participating employee becoming Totally and Permanently Disabled and unable to work and earn an income. This benefit is also paid when the insured person is diagnosed with certain medical conditions as defined by Hollard, for example, stroke, blindness, etc. These conditions are covered in detail in our policy contracts.
It provides cover in case of the employee’s inability to work because of disability. The benefit is a regular monthly benefit of up to a maximum of 75% of the member’s monthly salary at the time of disability. The series of income benefits continues until the first of the employee recovering, retiring or when the employee passes on.
This is a shorter-term version of Permanent Health Insurance. It provides the income benefit for shorter periods of up to a maximum of 24 months, depending on the employer’s preference.
This is another benefit that can be added to the Group Life Assurance cover. The Critical Illness or Dread Disease benefit is paid upon diagnosis of a pre-specified illness. The list of pre-defined illnesses includes:
The Dread Disease benefit is a once-off lump sum benefit and is intended to ease the financial burden and supplement a member’s medical aid. Certain illnesses will be assessed based on severity and a percentage of the total benefit paid out if the illness is mild, but still meets the definitions of the policy. The percentages payable are given in detail in the policy contract.
This is a funeral benefit offered to employees of a company or members of an institution, such as churches, burial societies, clubs, trade unions, among others. The benefit is paid as cash and is intended to assist in covering the funeral costs of the deceased. This benefit can extend to the member’s partner, children, parents and parents-in-law, as well as extended family members.
This cover provides payment for the balance of the insured borrower’s outstanding loans or covering the instalments. This can be done for staff, personal, vehicle or home loans or borrowers from a financial institution.
