Group Life Cover

Group life assurance scheme supplements the regular income (e.g benefit from pension savings) in an unfortunate event.

THE MAIN ASPECT OF A GROUP LIFE SCHEME ARE:

• The employer is the group policy holder and a master policy is issued covering all the members of the scheme.
• The employer may pay the whole premium or the employee may contribute part of it.<.li>
• The premiums paid by the employer are allowed as business expenses.
• Claim amount is completely Tax Free.
• Free Cover Limit depends on number of members in the scheme and minimum is Kshs. 1M.

Group Life benefit is normally written on a fixed scale, that is, either a flat amount for all members e.g Fixed can be Kshs 100,000.00 or multiples of the same, or a multiple of annual basic salary.

SCOPE OF COVER

Our group term assurance policy has no exclusions on cause of death except the standard insurance exclusion of war risks, earthquake etc. We do not have HIV/AIDS exclusion clause on the term assurance. Members whose benefits are above the Free Cover Limit and test positive will be covered up to the Free Cover Limit.