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+255 22 211 0544 | 212 0113
info@metrolifeassurance.co.tz

Group Life Assurance

This ensures that
employees and their families are taken care of
when negative life events such as death or disability occur.

what is

Group Life Assurance.

Group Risk Insurance provides protection to a group of persons for life changing events. It is typically provided by an employer to their employees. This ensures that employees and their families are taken care of when negative life events such as death or disability occur.

Behind the scenes

Discovering How it Works

  • The employer (policyholder) decides on the type and level of benefits to be provided.
    Thus the employees (members) do not have individual choice regarding benefits.
  • Cover is compulsory for all eligible employees.
    Eligibility depends on the individuals being within the minimum and maximum ages of the Group Risk scheme and being actively at work.
  • The employer will pay the premium for the scheme to the insurance company.
  • When a claim arises, the benefit is paid to the employer who in turn pays the employees’ nominated beneficiaries.
Impact

What Are The Advantages Of Group Risk?

  • Members are protected against major life risks
  • The premium rate for the group will in general be lower than members could obtain under separate individual policies.
  • Because the cover is compulsory, the majority of members can obtain life insurance without the submission of medical evidence.
  • Different benefit levels can be provided to different categories of members.

Why Is It Important?

Those that are formally employed provide income for their families.

Group Life cover ensures that the family is protected and are able to provide for themselves
should the income earner pass away.

Thus Group Life Assurance is a key way in which an employer can care for the financial needs of their employees.

Cool Stuff

Key Features

What type of Benefit offered.

The benefit is a lump sum payment. The employer can choose whether the benefit is:

  • A multiple of annual salary (e.g. 2 x salary)
  • A fixed amount for every member
  • A multiple of salary up to a maximum amount

What is the Maximum Benefit?

Lower of 10 x annual salary and Tsh 7 billion

Do you any Other Benefits?

The following optional benefits can be added to Group Life Assurance:

  • Education Benefit
  • Critical Illness Benefit
  • Permanent & Total Disability Benefit
  • Temporary and Total Disability Benefit
  • Accidental Temporary Disability Benefit
  • Accidental Partial and Permanent Disability Benefit
  • Funeral Benefit

What type of Benefit offered.

Cover can continue for members employed after normal retirement age, up to age 70.

Get a Quote
Address

Diamond Plaza, 5th Floor,
Samora / Mirambo Street,
P.O Box 77016,
Dar es Salaam, Tanzania

+255 22 211 0544

info@metrolifeassurance.co.tz

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