LIFE INSURANCE POLICIES FOR GROUPS
It is the responsibility of every company to offer life insurance for employee groups, as the business is unlikely to have the resources to continue to pay salaries to staff who are absent for long periods of time, due to sickness or injury. This way, as a company owner, you are financially protected from any adverse events that affect your employees' ability to work.
LIFE INSURANCE POLICIES FOR GROUPS

GROUP LIFE INSURANCE

Group cover for life insurance allows a large group of individuals within an organisation (typically a group of employees) to purchase Life Insurance at a competitive wholesale premium rate. Effectively functioning as a combined group policy, it offers the advantages of little to no medical underwriting and simple administration. As well as Life Insurance, this type of policy can also include TPD (Total and Permanent Disability) insurance, and in some cases, it can include Income Protection (also known as group salary continuance).

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WHEN SHOULD I CHOOSE LIFE INSURANCE COVER?

It is the responsibility of every company to offer life insurance to its employees, as the business is unlikely to have the resources to continue to pay salaries to staff who are absent for long periods of time, due to sickness or injury. This way, as a company owner, you are financially protected from any adverse events that affect your employees’ ability to work.

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Choose your own policy, which can be trauma insurance (recovery insurance), life insurance, income protection insurance, or one of the other types of life insurance.
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WHAT ARE SOME OF THE MAIN REASONS FOR CHOOSING GROUP INSURANCE COVER?

When you provide group cover to your employees, you reap the following benefits:

  • Valued protection for your employees and their families, ensuring they can continue to pay living expenses if the worst, such as workplace injury or death, should ever occur.
  • Provides the business with financial protection and extra risk management, shielding you from unforeseen additional sick leave expenses.
  • Removes the need to decide whether to pay a sick or injured employee – if it is covered by the policy, so payment is automatic. You are free of any related financial or ethical dilemmas.


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