Group Life Cover

Group life insurance is one of the key employee benefits arranged by the employer for the benefit of employees and their family members. It is an annual cover and renewable.

It is comprised of;

  • Group Life Security
    • This is the main cover on employees/members life. It provides cover against the risk of death due to illness(natural) or accidental causes on a 24-hour basis with a worldwide geographical coverage .  
    • The benefits are payable the Company for onward payment to the next of kin as per the nomination form
    • It has the following riders  which may be purchased separately;
  • Permanent Total Disability
    • It provides for a payment of full benefits (Sum assured amount) incase an employee/ member is determined by a qualified medical practitioner to be totally disabled .
    • The benefits are payable to the employee/member.
  • Critical Illness
    • It provides payments of 30% of the benefits to meet the expenses incurred on first diagnosed  life threatening illnesses such as heart attack, stroke, kidney failure, cancer etc.
    • This benefit will compliment on the medical insurance chronic benefit which is in itself limited in provision.
    • Benefit is payable to the employee/member and does assist in meeting the expenses incurred in the course of treating critical illnesses.
    • The balance of 70% of the benefits shall be payable to the next of kin incase of death arising.
  • Last Expense
    • A specified amount is payable to the Company within 48 hours of notification for onward payment to the next of kin as per the nomination form.
    • This benefit will improve on the similar funeral benefits in the medical scheme
  • Free cover limit (FCL)
    • This is an upper limit of benefit cover (sum assured) above which an employee/member will be required to undergo medical examinations.
    • Medical examinations are done at any of appointed service providers and the Expenses are paid by Kenindia Assurance Co. Ltd

Salient features;

  • It is a cover arranged by the employer for employees

  • Benefits are in multiples of annual salary or a fixed amount
  • Premium is charged at a rate per 1000 coverage OR age based rate
  • Covers death from illness and accidental causes
  • A master policy is issued in favor of the Company
  • Eligibility start from 18 – 65 years
  • Last expense cover can be extended to include spouses and children
  • Critical illness and Permanent Total Disability are subject to new diagnosis and waiting period of 6 months.
  • Members are required to complete Group Life application form
  • Members whose sum assured is over the FCL will be required to go for medical tests
  • Medical examinations are done in any of our appointed service provider at a cost borne by Kenindia Assurance Company
  • All members will be covered up to FCL limit until medical test and additional underwriting requirements are completed.

Benefits of Group Life

  1. The Company will continue to attract and retain high calibre staff. Hence achieve high staff retention that will minimize costs relating to frequent hiring.
  2. The Company will gain mileage in reputation by the society given that the affected employee’s family financial future will be secured through the payment of the benefits in case of demise.
  3. Group life cover provides peace of mind and reassurance to employees who will perceive a sense of belonging and gives back dedication and increased input in performance in return.  
  4. The Company will most importantly get a tax relieve from a reduced taxable amount. Total premium amount is treated as an expense and is netted off before tax is applied.
  5. Claim benefits are payable in full amounts and are therefore not taxed

Scheme Administration

  • Maintain updated member records on an ongoing basis
  • Ensure timely payment of claims within 10 working days
  • Initiate renewal process 60 days before next renewal date
  • Facilitate for regular service meetings
  • Undertake technical and administrative aspects of the scheme
  • Train and assist members on scheme information

Standard Exclusions

No benefits for a Life Assured under this policy shall be payable by the Company in the event of death

as a result of:-

  1.   The Life Assured engaging in aviation other than as a fare-paying passenger on a schedule route of a

     recognized  Airline except  if the Life Assured’s  normal course of duty involves handling of an     

     Aircraft operated by a regular Air Line or established Charter Service

  1.   The Life Assured is engaging in mountaineering necessitating the use of ropes or guides

     except when done while the Life Assured is on duty. Winter Sports, Big Game Shooting or

     riding or driving in any kind of race or motorcycling.

  1.  The life assured being under the influence of alcohol or illegal drugs, narcotics and any other

    substance medically determined as harmful to one’s health.

  1.  The Life Assured engaging in motor cycling race, polo racing on horseback or on wheels, winter

    sports except where the Life Assured is cycling a motor cycle whose engine capacity is not more than

    500cc.

  1.  The Life Assured participating in war, invasion, act of foreign enemy, hostilities or warlike

   operations whether war be declared or not.  

  1.  Active participation in Mutiny, riot, strikes, military or popular uprising, insurrection,

    rebellion, revolution, military or usurped power, martial law or stage of siege or any of the

    events or causes which determine the proclamation or maintenance of martial law or stage of

    siege

  1. Self-inflicted injury deliberately caused by the member’s application of medications unless

   administered by or taken in accordance with the directions of a member of the medical

   profession  

 

Requirements

  • for quotation:
    • Names of the employees, occupation and payroll numbers
    • Date of birth and ages (next birth day)
    • Monthly or annual basic salary for each employee
    • Amount of cover required
    • Preferred riders
  • for effecting cover:
    • Communicate on commencement date
    • A list of employees to be covered and salaries
    • Submission of filled proposal forms
    • Certificate of Incorporation
    • PIN Certificate
    • Full payment of premium

Some of our clients

We are providing group life insurance to our esteemed customer base who range widely in scope, size, and sector. Here below are some amongst the many valued clients.

  • Kisii County Government
  • Sarova Hotels
  • M-Oriental Bank
  • ASP Company
  • Phillips Pharmaceauticals
  • Wartsila
  • General Printers
  • Bank of India

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