Group Life Insurance
Your employees are your best asset, so it makes sense to protect them. Group Life Insurance offers peace of mind to employees that their family will be supported financially in the event that something happens to them.
Protection for your employee's families
Attract top talents
Retain your best employees
Offer financial protection
Tailored solutions
Group Life Insurance (often referred to as Death-in-Service) is now seen as an essential part of the benefits package for most employers. It provides employees with the peace of mind that dependants will be supported financially in the event of their death.
How group life insurance works
We offer employers the flexibility to design a policy to meet your needs. You can decide on the eligibility criteria, level of benefits and payment terms.
Zurich’s Group Life Insurance cover can be structured in various ways. You can choose one or more of the following options:
The payment can be made as one Lump Sum. The Lump Sum can be a multiple of salary or a fixed amount.
The payment can be made in the form of a Spouse’s Pension, where the spouse receives a monthly payment to help replace part of the deceased person’s regular income. This can be a fixed amount, or it can increase each year in line with inflation.
The Children’s Pension option pays a monthly income to the family until the deceased’s children reach the age of 18, or 21 if they remain in full time education. This can be a fixed amount, or it can increase each year in line with inflation. We offer employers the flexibility to design a policy to meet your needs. You can decide on the eligibility criteria, level of benefits and payment terms.
Other group risk benefits
Pension protection
Insure employee's pension contributions for long term sick leave with option to add serious illness cover.
Group income protection
Protect your employees from loss of income if they are unable to work for long term illness or injury.
Important information
The information contained herein is based on Zurich Life’s understanding of current Revenue practice and may change in the future.