Never compromise on the happiness and financial security of your family. With this in mind having your employees secured under this policy will ensure their families are financially secured in case of accidents or death. Dependents get compensated in form of money that is usually a fixed amount or a multiple of your employee’s salary in the event of death.
Having this policy also comes with benefits such as;
- Premium rates represent a very low percentage of the employer’s payroll
- The registered schemes premiums are usually allowable as a business expense thereby reducing the net cost to the employer.
- A wide variety of features can be incorporated into any scheme therefore meaning that it can easily reflect an employer’s requirements.
- A group life assurance scheme can offer a Free Cover Limit therefore meaning that medical evidence is often not required at all.
- A well promoted scheme can enhance staff loyalty
- The policy can have a funeral expense benefit to cover the employee, his/her spouse and children