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Group life
The purpose of a company-sponsored life insurance plan is to provide the employee's family with a death benefit equivalent to one, two or three times (or higher) the employee's annual salary. This benefit gives the family time to grieve without the additional worries of meeting financial obligations.
Evidence of good health may be required on certain employees depending on the size of the group and the sums assured.
Accelerated Death Benefit
Our group Life plans allow for a partial payment of death benefits if the employee is not expected to live beyond a 12-month period.
Accidental Death & Dismemberment Benefits (AD&D)
This benefit is written in conjunction with Group Life. It provides additional protection if death is caused by accidental means.
The coverage is written on a 24-hour basis, which means work-related accidents are covered. In addition to the lump sum payment in the case of death, various benefits are payable in the event of a loss of a limb or of eyesight, or loss of use caused by paraplegia, quadriplegia and hemiplegia.
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