Empowering Employers to Address Employees Group life cover

Our dedicated team will help you find the best group life cover for your employees.

GROUP LIFE COVER FOR YOUR EMPLOYEES

People who work in our businesses are an important part of our daily lives. They are often family breadwinner and if tragedy strikes, their dependants may be left destitute. As their employer, you may be the one left with a moral responsibility towards their family if something happens to them.

This policy which an employer takes out for the benefit of the employees. Includes death benefit, disability, funeral cover, provident or pension funds. The employer subsidises the costs of these policies. Legislation is going to be changing which may force employers to take out cover for their employees.

Our extensive portfolio of Group Life insurance, provided by our valued Insurance Partners, offers comprehensive retirement and group insurance solutions to help Employers take care of their employees' financial needs pre- and post-retirement.

Pension/Provident Funds
Umbrella Funds
Group Disability
Employers Group Critical Illness/Dread Disease
Medical Aid for a group
Medical Insurance
Life Cover
Occupational Disability Cover
Family Funeral Cover
Disability top up cover

FIND THE BEST GROUP LIFE COVER FOR YOUR EMPLOYEES!

As an employer, you choose the initial cover option(s) and contribution rate(s), and employees then have the freedom to move to another product option and/or adjust their contributions depending on the initial product option.

We don’t believe in a one size fits all approach, but rather work with our clients to tailor group life cover benefits to the specific needs through a combination of the products. We offer a range of services to help employees throughout their life journey in South Africa.

COMPREHENSIVE BENEFITS WITH GROUP LIFE COVER

We have a range of group life cover available which gives your employees the ability to provide for themselves and their families when they are no longer able to.

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INSURANCE FLEXIBILITY

We assist employees decide how much group life cover they need. Employees can choose to increase or decrease their insurance benefit and only pay for the cover that they need to suit their personal circumstances. For example, they can increase their amount of insurance cover when they have a child and then decrease it when their child leaves home and they are closer to retirement.

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GROUP LIFE COVER, INVESTMENT SOLUTIONS FOR RETIREMENT FUNDS

Each person has a unique life journey, throughout their working life and into retirement. Retirement funds focus on their members’ financial security during this journey. Our range of Group life cover can be tailored to suit your members’ retirement goals and investment needs.

We help Employers help their employees reach their retirement goals. We offer Insurance so that they can provide financial security for their employees when life-changing events happen.

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GUARANTEED LIFE ANNUITIES

Our Guaranteed Life Annuities pay a regular income for life to the pensioner and protects them against market fluctuations. Their initial income together with any future increases is guaranteed to never decrease.

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GROUP LIFE COVER INSURANCE BENEFITS

Employees who feel cared for are more are more likely to contribute to your business’ journey to success. Provide them with Insurance Benefits to help protect their financial future and give them peace of mind if a traumatic life event prevents them from earning an income.

DEATH BENEFITS

We provide financial assistance to your employees and their families if they or one of their family members passes away.

DISABILITY BENEFITS

We assist your employees financially and support them to receive the care they need to get back to work.

ILLNESS BENEFITS

If an employee is diagnosed with a critical illness or hospitalised, we help them cover potentially overwhelming expenses and lifestyle adjustment.

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Group Life Cover, Income Top-up Benefit

A standalone benefit that helps clients with a Group Income Protection (GIP) benefit fill the gap between their income needs and their GIP pay-outs until retirement. The Group Income Top-up Benefit gives clients with a GIP benefit the peace of mind that they will have an income during the GIP waiting period and until retirement.

It pays an income of up to 75 per cent of net income during the GIP waiting period and tops up the difference between what the GIP pays out and 75 per cent of their net income until retirement. This benefit is ideally suited for clients with GIP benefits that have a waiting period of three months or longer and a pensionable salary that is less than 100 per cent of their net income.

Why is it group life cover important?

If your clients have a pensionable salary that is less than 100 per cent of their net income, during a claim they have to make provision for income during the waiting period of between three and six months, and have to settle for an income that is lower than their regular net monthly income.

The GIP benefit usually only pays 75 per cent of pensionable salary after tax, which means that it effectively only pays 60 per cent of your clients’ regular net income (assuming a pensionable salary equal to 80 per cent of net income, which is typically the default). The Group Income Top-up Benefit helps your clients to fill this income gap until retirement and to ultimately protect their long-term financial well-being.

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