A loss in the family is never easy. The Personal Group death benefit plan can ease the financial burden on employees and their families should the worst happen.
Should an employee pass away, the death benefit plan pays out a lump sum to their estate. The plan will pay in the event of death from any illness or injury, no matter what the cause, with an additional benefit for accidental loss of life. In the event of a terminal illness diagnosis, where there is a life expectancy of 12 months or less, this plan will pay out to the policyholder.*
Why should employers offer this benefit?
Where employers cannot offer employee life insurance coverage or death in service benefits, it's important that your workforce still has a way to look after their loved ones in a worst-case scenario. It’s not easy to think about, but planning for these situations can make a significant difference to loved ones.
What are the benefits of a death benefit plan for employees?
A loss in the family can be a difficult time, and financial difficulties are a burden that can only add to the stress. Our plan pays out a lump sum to an employee's estate in the event of death. With no lifestyle questionnaires or medical underwriting to worry about, employees can pick a plan level that will suit their personal circumstances.
*The benefits, limitations and exclusions of cover depends on the cover chosen and individual plan terms and conditions.