Employer Sponsored Life Assurance - Group Life Assurance
A Group Life Assurance Policy provides lump sum death-in-service benefit to the dependants of a deceases employee. The policy is usually employer-sponsored. The level of cover (benefits) is often expressed as a multiple of the employee’s last notified annual salary. The policy may be issued with riders such as disability benefits, critical illness benefits and funeral benefits. Group Life Assurance level of cover of benefits can also be stated as a flat sum.
| Benefits | It serves the purpose of protecting policyholders’ dependents from the financial consequences of the inability to repay the loan outstanding as a result of the death or critical illness of their breadwinner. |
|---|---|
| -- | It protects the dependents’ from the anger of financial institution in case of default thereby restricting the financial institution from assets |
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Prudential Life Assurance Zambia
Group plans
Lusaka
With the policy owner being an employer or organisation, this is a single contract that covers a group of employees. Providing life insurance cover to employees lets them know that they are a valuable part of a company – and so are their families. Prudential Life Zambia offers employer sponsored life plans and credit life assurance.
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Business life insurance
Lusaka
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