Group Life
Group life insurance is a standard employee or member of an organisation benefit that provides a death benefit to the insured’s beneficiaries if they die while being a part of the organisation. The purpose of group life insurance is to provide financial compensation in the event of the death of a member of the group.
Reasons To Do Group Life Insurance
- Group life insurance protects insured members' families or loved ones in the event the insured members die.
- The association or organisation does not need to contribute money for the deceased family or loved ones because the insurance firm will pay it out.
- Each beneficiary is entitled to at least three times the annual emolument of the deceased income
- The stress-free claim settlement process
- The benefit provided can enable the deceased's family to maintain their standard of life.
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