InPloy - Group Life Insurance

Group Life Assurance (Death Benefit)

A lump sum benefit is calculated either as a multiple of annual salary or as a flat benefit payable to the policyholder upon the death of an employee.

Lump Sum Disability

An employee will be considered totally and permanently disabled when he/she is unable to perform the material and substantial duties of:

• His/her own occupation
• Any occupation for which he/she could reasonably be expected to be educated, trained, or experienced and for any employer

Permanent Health Insurance

This is an income replacement benefit, which pays out a percentage of an employee's monthly salary each month while he conforms to the below definitions of disability:

• Initial period: 24 months
  An employee is considered to be disabled if he/she is unable to perform his/her own occupation for any employer.
• Subsequent period:
  An employee with be considered totally and permanently disabled when he/she is unable to perform the material and substantial duties of any occupation for which he/she could reasonably be expected to be educated, trained, or experienced and for any employer.

The benefit will continue while the above definitions are met but will terminate at the earliest of:

• Recovery
• Return to work
• Death
• Normal retirement age

Critical Illness

This cover offers a lump-sum pay-out, calculated either as a multiple of salary or as a flat benefit, upon the diagnosis of one of 16 specified illnesses. Among these are some scaled benefits, in terms of which the pay-out is adjusted, based on the severity of the condition. For the remaining illnesses, employees can expect a full payout if the policy conditions are met.

Group Funeral Scheme (GFS)

A funeral benefit typically covers an employee, their spouse, and up to four children at a single premium cost.

The benefit is usually scaled as follows (where the percentages represent the percentage of the employee’s funeral benefit):

• Main member: 100%
• Spouse: 100%
• Children 14-21: 100%
• Children 06-13: 50%
• Children <6 (incl SB): 25%

Accidental Death Benefit

Similar to Group Life Assurance but specific to accidental death, our policy offers a lump-sum benefit calculated either as a multiple of the deceased employee's annual salary or as a flat-rate benefit. Payment is made directly to the policyholder upon the accidental death of an employee.

Accidental Disability Benefit

This specialised coverage is only activated if an employee's disability results from an accident. An employee will qualify as totally and permanently disabled when they are unable to carry out the essential duties of their current role or any other occupation for which they have the relevant education, training, or experience.

Temporary Total Disability (TTD)

Our Temporary Total Disability (TTD) coverage offers income replacement for a defined period ranging from 6 to 24 months. During this time, a portion of the employee's monthly salary is paid out under the following disability definitions:

Initial period: 24 months:

An employee is deemed disabled if they cannot perform the duties of their own occupation for any employer.

Subsequent period:

The employee is considered totally and permanently disabled if they are unable to undertake any job for which they have the relevant skills, training, or education.

Payments continue as long as the disability criteria are fulfilled but will terminate at the earliest instance of recovery, return to work, death, or reaching the normal retirement age.