It is a collective term assurance offered by employers to staff members to provide a benefit to dependents in the event of death in service

FEATURES

  • Group Life Assurance Scheme provides for a lump sum to be paid in the event of the death of a member of the scheme provided he/she is still in the service of the employer or scheme holder.
  • This cover enables the employer/scheme holder to alleviate the financial distress that might befall the dependents of an insured member upon his/her death.
    Cover is usually expressed as a multiple of salary (2,3,4 times basic salary) or on fixed amounts (500,000/=, 1,000,000/= etc