Life, Protection & Wealth Insurance


 

Life and health insurance is a valuable benefit to provide for your employees. It can often be easy and relatively cheap to provide, and plays a major role in helping you attract and retain good quality employees. It is possible to buy life insurance for employees individually, but more commonly businesses take out life insurance for a whole group of employees. This is called group life insurance and can be arranged alone, though it is also often found linked to a pension arrangement. A group life insurance scheme might include all employees who have been working in the business longer than a certain period, such as six months. Usually, the lump sum insured for each employee is a multiple of their wage or annual salary, subject to a maximum of four times annual salary. It is also possible to buy critical illness cover for your employees, though this is less common, and is usually combined with a life insurance arrangement. There is a range of other types of insurance for your employees and the need to provide these benefits may depend on the need to compete with other businesses for the best employees. Other types of insurance offered as employee benefits include:
1. Private Medical Insurance - pays for the treatment of agreed acute conditions
2. Income Protection - pays regular income to employees who are unable to work because of illness or injury
Our Insurance Specialists will be more than happy to assist should you require any assistance.

Individual life: is a policy that is paid by one person and covers a single person. This insurance is intended to meet the financial needs of a surviving spouse or family members in the event of the insured's death.

Mortgage insurance: is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan.

Personal accident: PA insurance is an annual policy which provides compensation in the event of injuries, disability or death caused solely by violent, accidental, external and visible events. ... PA insurance provides 24-hour worldwide insurance

Critical illness: is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy

Disability Insurance: that pays disability benefit as a partial replacement of income lost due to illness or injury. ... Long-term disability insurance provides coverage in the form of monthly income payments for as long as the insured remains disabled.

Weekly Indemnity: A short-term disability income insurance plan which pays a weekly benefit equal to a dollar amount or a percentage of the insured person's earnings.

Family Protection: is a type of life insurance that allows you to secure your family's financial future in the event of your death. It can be a level term insurance which means it pays out to your dependents if you die within a fixed term.

In-hospital Income

In-hospital income: Insurance that provides an income while the insured is in the hospital. This type of policy pays out on a weekly or monthly basis. The benefit paid out can be used to pay hospital expenses or for whatever purpose the insured chooses.

Pension plan

Pension plan is the retirement amount, which an individual gets from their insurance companies on a regular basis or in the form of a lump sum. There are various types of such plans available in the country offered by various companies. The sum you gain is can be termed as either the annuity or pension.

Wealth Management: An example would be an insurance company where their agents sell insurance but describes its insurance agents as providing wealth management. Or Investment firm that is solely managing your investments but refers to those services as wealth management.

Keyman Insurance : can be defined as an insurance policy where the proposer as well as the premium payer is the employer, the life to be insured is that of the same employer's key employee (Keyman) and the benefit, in case of a claim, goes to the employer.

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