Group Life and Disability
The key to the success of any corporation lies in the strength of its people. Your employees' well-being and job satisfaction is vital to the growth and prosperity of your business. Recent surveys indicate that employee benefits are increasingly becoming the criteria that employees value most when prospecting for a job.
If you are looking for a customised solution or have more than 10 employees, we can offer a host of features and benefits that you can pick and choose from, to create a plan designed to suit your unique requirements. Our expert consultants will work closely with you to determine the best plan, service features and coverage for your business.
With MetLife, you can create packages that offer the following types of cover to your employees:
Basic Life Cover with variations that include Supplementary Life Cover, Voluntary Life Cover and Dependant’s Life Cover
Disability Protection
Basic Life Cover (Death due to any cause) : This provides a lump-sum payment in the event of death due to any cause of any employee anywhere in the world.
We offer 4 types of Basic Life Cover plans
- Multiple of Earnings Plan : In this plan, the benefits are determined by a multiple of the employee’s earnings be it annual, monthly, weekly, or hourly earnings.
- Multiple of Earnings Plan - Variable Compensation (Commission / Bonuses) : The calculation remains the same as mentioned above for the Multiple of Earnings plan. However in this case, the earnings include the variable compensation.
- Flat Amount Plan : The amount of insurance is identical for all eligible employees.
- Class Plan : In a “class schedule”, the amount of insurance varies according to the occupation or salary level classification.
Some of the features of our plans include
- Accelerated Life Benefit : This benefit provides for the payment of up to 50% of the covered benefit in the event of a terminal illness.
- Extension of Death Benefit : Provides for continued cover of up to 12 months after the insured is terminated due to permanent disability
To this product, you can attach one or more of the following riders
- Accidental Death Benefit : This rider provide a double indemnity in the event of death due to an accident. Coverage is usually equivalent to the life cover.
- Permanent Total Disability (PTD) : This rider provides a benefit when an employee is totally disabled on a permanent basis. Under this type of coverage, the face amount is paid to the employee in monthly installments, up to 60 months. as an annuity, or in a lump-sum.
- Permanent Partial Disability : This benefit becomes payable if an employee becomes partially disabled, on a permanent basis, as a result of bodily injury due to accident or sickness. A percentage of the coverage amount is paid based on the extent of disability.
- War Risk Cover
- Body Repatriation : This is an additional benefit to cover the repatriation of mortal remains back to the insured’s home country.
- Critical Illness (CI) Critical Illness provides for the payment of the cover benefit upon the first diagnosis of specific terminal illnesses.
Supplemental Life Cover : These programs offer an important option for employers who wish to increase the life cover offered to their employees. The premium for this is usually contributed by the employee.
Voluntary Life Cover : A voluntary program that offers the group members an opportunity to purchase group term life coverage on a payroll deduction basis.
Dependant Life Cover : This program is designed to provide a lump-sum benefit in the event of the death of an insured’s dependant. The dependant coverage may be contributory or non-contributory by the employer and the employer has the choice to make the coverage mandatory or voluntary.
With each of the packages you select, we provide the MetLife service promise which includes
A clear explanation of policy terms and condition
Competitive pricing, to ensure risk and premium are properly co-related
Profit share arrangements on large accounts through multi-national / regional pooling solutions
Employee handbooks, orientation presentations and continuous education programs
Prompt and efficient payment of claims to the beneficiaries
Eligibility
All full-time permanent employees, who have not reached their sixty-fifth (65th) birthday, actively at work in the policyholder’s offices in the country of coverage
Participation Requirements
The Group Life Plan is designed for employers with a minimum of 10 employees. All eligible employees must be enrolled.
Payment Modes
Flexible payment modes are available ranging from quarterly to annual.
Claims
Apart from a prompt and efficient claims processing facility, we also provide claim payments in diverse currencies if the beneficiaries are located in a country that is outside the insured’s country of employment.
MetLife group insurance policies contain certain exclusions, reductions, limitations and terms for keeping them in force. Contact your MetLife representative for more information.
/Support-Center.jpg)
To view our list of medical providers
/Group-PA.jpg)
Group Personal Accident Plans