WHAT IS Group Life

This is a cover usually taken by an employer on behalf of the employees. It provides a 24-hour cover to policyholders, members and their families in the unfortunate event of early death, disability or Critical Illness. The cover may be a multiple of income (1, 2, 3, 4 or 5 times income) or a specific level term amount.

BENEFITS

Standard Cover: Madison group life offers the Full assurance benefit upon death of a member
Additional Benefits (Optional):

  • Funeral cash benefit: maximum of 200,000 ksh.
  • Critical illness rider: Upon diagnosis of any listed illnesses, the policy will pay 30% of the sum assured up to a maximum of Kshs. 3 million.
  • Total and permanent disability: Payable in the event of Total and Permanent Disability as a result of an accident.
  • Family income benefit: This rider allows a member to choose how benefits left behind are utilized

how it works

Provide the below information to facilitate a quotation.

  • List of the Members.
  • List of spouses and children for family funeral cash and spouses cover.
  • Dates of Birth.
  • Annual salary where cover will be based on a multiple of salaries or amount of level benefit amount required.
  • Cover benefit amount – funeral cash.
  • Number of members (population in a scheme).
  • Claims experience for existing schemes or number of deaths over last three years.

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