Provides cover to group of people.

Namely employees of a business organization, members of an association or any group under a single contract

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Group Life Insurance | Al Buhaira Insurance

Group life insurance provides cover to group of people. Namely employees of a business organization, members of an association or any group under a single contract. Group Life Policy covers varied benefits on a worldwide & 24 hours basis. Life Insurance Policies usually issued to the Employers to cover their Employees/ Registered members under a wider policy than the statutory Workmen’s compensation Policy. Under the Group Life Insurance Policy, it is mandatory that all the employees are required to be covered. In order to cover members in a Group Life, there will be always a requirement of minimum number of members at 10 employees.

Benefits

  1. Death Due to Any cause (DAC) – In an unforeseen event of death due to any cause (Sickness or Accident as defined in our policy), the Insurance Company shall pay the benefits equivalent to the sum insured agreed upon.
  2. Permanent Total Disability due to Sickness (PTD- Sick) –In the event of a member being totally and permanently disabled as a result of a sickness to the extent of being unable ever again to follow his own occupation or any other occupation, the insurance Company shall following 12 months of such continuous disability, pay the Sum Insured equivalent to the basic life Sum Insured.
  3. Permanent Partial Disability due to Accident (PPD-Acc) – In the event of a Member suffering, as a result of an accident, the loss by physical separation, or the total loss of use of, any limb or organ of the body or the total and irrecoverable loss of sight as set out in the Continental Scale of Benefits, the Company shall pay the respective percentage of the Sum Insured
  4. Permanent Partial Disability due to Sickness (PPD- Sick) – In the event of a Member suffering, as a result of a sickness, the loss by physical separation, or the total loss of use of, any limb or organ of the body or the total and irrecoverable loss of sight as set out in the Continental Scale of Benefits, the Company shall pay the respective percentage of the Sum Insured
  5. Temporary Total Disability due to Accident (TTD-Acc.) – In the event of a Member being totally unable to follow his normal occupation as a result of being continuously and totally disabled by reason of Accident, the Company shall pay up to 100% weekly declared salary.
  6. Temporary Total Disability due to Sickness (TTD-Sick) – In the event of a Member being totally unable to follow his normal occupation as a result of being continuously and totally disabled by reason of Sickness, the Company shall pay 100% of weekly declared salary. This payment is made for a maximum period of 52/104 weeks, subject to waiting period.
  7. Medical Expenses Due to Accident (AME) – Actual cost of medical Expenses due to accident subject to the maximum limit agreed shall be paid to the member per annum.
  8. Repatriation Expenses (RE) – shall reimburse the actual cost of Repatriation of the mortal remains or the disabled member to his home country subject to the maximum limit agreed in the policy
  9. Terminal Illness / Accelerated Living Benefit (TI) –Where the life expectancy of the member is lesser than 6 months this benefit becomes payable. To qualify for this benefit, the Employee must have been diagnosed as being terminally ill while insured under the Policy.
  10. Critical Illness (CI) – Benefit paid as a lump sum if an insured suffers from one of the insured critical illnesses in accordance with the definitions described in the policy from the date of diagnosis or surgery with the waiting period of 120/90 days and survival period is 30/60 days. (I.e. Cancer, Heart attack, Stroke, Coronary artery bypass surgery, Major organ transplant, Kidney failure)

Basis of Sum Insured

  1. Multiples of employees Income
  2. Flat sum insured
  3. Different category of sum insured based on seniority of the employee.

Free Cover Limit

  1. This is a non-medical limit offered to the Group wherein the members are covered automatically without any medical underwriting. (Member life will be covered without any medical examination of his health up to the limit)

Age at Entry

  1. Minimum of age 18 years and maximum of age 64 years.

Age Limit

  1. 18 to 65 years.

Members above 65 years up to 70 years can be covered subject to policy terms and conditions.

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Group life insurance is a type of insurance policy that provides life insurance coverage to a group of people. This group is usually comprised of employees of a company, members of an organization, or members of a union. Group life insurance is typically offered as a benefit to employees by their employer.

The primary reason why a company should give group life insurance to its employees is to provide financial security to their loved ones in the event of their unexpected death. In the case of an employee's untimely demise, the group life insurance policy pays a death benefit to the designated beneficiary. This death benefit can help the employee's family cover their expenses, pay off any outstanding debts, and ensure that their loved ones are financially secure.

Another reason why companies should offer group life insurance is to attract and retain talent. Offering a comprehensive benefits package, including group life insurance, can help companies attract top talent and retain employees. Employees are more likely to stay with a company that provides a comprehensive benefits package that includes life insurance coverage.

Additionally, offering group life insurance to employees can be cost-effective for employers. Group life insurance policies are typically less expensive than individual life insurance policies. This is because the risk of death is spread out over a larger group of people, making the risk to the insurance company lower.

In summary, group life insurance is an important benefit that companies can provide to their employees. It offers financial security to employees' loved ones in the event of their unexpected death, helps attract and retain talent, and can be cost-effective for employers. By offering group life insurance, companies demonstrate that they care about the well-being of their employees and their families, which can lead to a more positive and productive work environment.

Al Buhaira National Insurance Company is a reputable insurance provider in the UAE and has been providing insurance solutions to individuals and businesses for over 40 years.

Here are some reasons why you might choose Al Buhaira Insurance for your Group Life Insurance requirements:

  1. Wide range of products: Al Buhaira Insurance offers a wide range of insurance products, including group life insurance. They can tailor the insurance solution to meet the specific needs of your business and employees.
  2. Financially stable: Al Buhaira Insurance is financially stable, which means that they can provide reliable and consistent insurance coverage. This is important when it comes to group life insurance, as you want to make sure that your employees' loved ones will receive the death benefit if something were to happen.
  3. Quick claims settlement: Al Buhaira Insurance has a reputation for quick and efficient claims settlement. This means that if one of your employees were to pass away, their loved ones would receive the death benefit quickly, which can help ease the financial burden during a difficult time.
  4. Experienced team: Al Buhaira Insurance has an experienced team of insurance professionals who can provide guidance and support throughout the insurance process. They can help you choose the right insurance solution for your business and ensure that you have the coverage you need.
  5. Customer-centric approach: Al Buhaira Insurance has a customer-centric approach, which means that they put their customers first. They strive to provide excellent customer service and ensure that their customers are satisfied with their insurance products and services.

Overall, Al Buhaira Insurance is a reliable and trustworthy insurance provider that can provide customized group life insurance solutions to meet the specific needs of your business and employees.

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