To have the best insurance program in the company, it is important to have a reliable team of insurance agents that has been in the industry for many years. Having an individual who has a strong commitment to work can be very advantageous by having easy access to relevant information and well-trained personnel. The following are some of its benefits;
Protect your company and your employees
This program allows you to cover for your employees’ belongings and property. If you are interested in having insurance to cover for some of your employees’ belongings, make sure that the insurance is going to be worth it. For example, if you have an assistant with a full-time job, then the insurance policy should not be more than 50% for her as she already has better financial benefits and welfare from her employer.
Employees can have peace of mind when they have no final salary in their employment contract
Since this plan is considered as self-funded personal coverage, it allows the employee to benefit from it when he/she no longer has a final salary in his/her employment contract.
Income protection in the event of sickness, childcare and maternity benefits
This coverage will help you to provide income protection for your staff when they are unable to work as a result of sickness. In this coverage, you can choose to include: Accident, Illness and Unusual Sickness Benefits
Income protection for the breadwinner
This plan will allow you to provide income protection for the breadwinner of your employees. The breadwinner is usually the one who works most and contributes the most to his/her family’s income.
Provide benefits such as childcare, maternity or childcare allowance, or other disability relief
The insurance program will allow you to provide benefits such as Maternity allowance or Child care Allowance Benefits. You can also offer other disability relief such as confinement aid, rehabilitation treatment, home nursing service and out-patient medical service. If there is an optional provision of these benefits on your plan; make sure that they meet your needs and requirements before deciding whether to opt in on them.
Provide death benefits
This plan will allow you to provide economic and financial assistance to your employees who pass away. You may choose to include the following optional benefits: funeral costs, disbursements of benefit, administration expenses, medical and medical supplies, burial expenses and other funeral arrangements such as services of chapel companies.
Provide employee-owned life insurance plan
With this plan, you can offer the company employee an employee-owned life insurance plan (EO LIP) that can give a lump sum amount upon an employee’s death or at his/her retirement saving up to 35%.
Invest in eligible life annuity
This plan will allow you to invest in eligible life annuities on behalf of your employee. This plan is a pension scheme where you are allowed to choose the amount and the individual(s) that you want to receive it. The money will be invested in a separate fund, which can be accessed when the policyholder reaches retirement age.
Make affordable group life insurance to your employees
Group life premiums are usually cheaper than individual premiums, but you must purchase enough coverage to be able to provide adequate protection to your employees. A good plan usually offers the following benefits: Accidental Death and Dismemberment (AD&D), Critical Illness Insurance (CI), Income Continuation, Life Income Protection (LIP) and Variable Life Income Protection (VLIP).