Overview

For most employees who are the primary wage earners in their families, the worry of knowing how their loved ones would be provided for incase of their demise, is a lingering concern.

As an Employer offering a Life Insurance cover enables you to strengthen your benefits package and give employees the peace of mind they seek. Knowing that financial support will be provided to those they leave behind if the employee dies in service. Not forcing their spouse and dependents to pull money from savings and investments or lean on family and friends for assistance.

These also enables you to meet your company’s goals as it inspires peak performance & increases your company’s appeal among potential hires.

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Features

Benefits of a Group Life Cover

  1. Most members are insured without being subjected to medical check up
  2. The insurance contract is between the employer and the insurance company
  3. The cover is renewable every year
  4. Unexpected requests for financial assistance do not have to be met out of business cash flows.
  5. It makes the employer more competitive and sort after by job seekers.
  6. It is inexpensive and simple to administer.
  7. Staff movements are allowed i.e. additions and deletions.
  8. Provides for loss of income when the breadwinner dies

 

Value Adds;

  1. Medical examination fees will be borne by Metropolitan Cannon Life Assurance.
  2. The Cover is offered on a 24 Hour Worldwide basis.
  3. Medical Requirements will be waived in respect of a member who has undergone medical examinations any time during the last 6 months.
  4. We must be notified of all death claims within 6 months from the time of death.
  5. Claims will be settled within 5 days from the date the claim is fully documented.
  6. All last expense claims will be settled with 48 hours.
  7. Insanity resulting from a medical neurological deficit is covered with the permanent disability benefit.
  8. Medical examination fees will be borne by Metropolitan Cannon Life Assurance.
  9. Members whose Sum Assured is below the Free Cover will not be subjected to Medical examination requirement.
  10. No exclusion on blindness.
  11. No exclusion on HIV/AIDS, Passive Terrorism, Civil war & commotion, Rebellion, Insurrection, Strike & Riot, Political violence, Hostility or warlike operations, Military or usurped power or mutiny etc. at no extra cost.

Benefits

Upon the death of an insured member during the term of the policy, the sum assured shall be paid to the beneficiary on record.  All  courses  of  death  are  covered  i.e.  natural, accidental and occupation (The sum assured is a multiple of the member’s annual salary).

Upon 100% disability of an insured member during the term of the policy, the insurer shall pay the full sum assured (the sum assured is a multiple of the member’s annual salary).

Covered upto 30% of the group life sum assured and paid upon first diagnosis of the critical illness. Critical Illnesses covered are Stroke, cancer, heart attack, paraplegia and paralysis, coronary artery surgery, blindness and kidney failure.

This benefit is payable upon the death of the insured member and is paid to the dependent on record as at the time the member filled his/her declaration form.

A certain limit up to which eligible members are granted insured benefit cover without having to submit medical evidence of good health to the insurer.

Worldwide

The terminal ages are 70 years for death benefits and 65 years for critical illness and disability benefits.

HIV & AIDS is not an exclusion

No exclusion on passive war, invasion, terrorism, act of foreign enemy, hostility, war-like operation, civil war, rebellion, revolution, insurrection, military or usurped power and popular rising, martial law, strike, riot, civil commotion or mutiny.

No restriction out of death benefits arising from accidental causes due to medical non-compliance.

Death by suicide is not an exclusion however the member must have worked for institution for a minimum of 1 year.

How do I get Started?

A list containing the name of each insured member, his/her date of birth, occupation, sex and annual salary.

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