Group Term Life Insurance offers the covers of term life insurance to groups of at least 10 people under a single policy. By ensuring a payment to your employees or their families in the event of death or accidental total and permanent disability, you provide a tangible and valued benefit.
Premiums paid by the employer can be recorded as a business expense. We plan the employee list, sums insured and joiner/leaver processes with you, and we take care of policy administration and follow up any claims.
What is covered?
- Death (core cover)
- Accidental death (additional cover)
- Accidental total and permanent disability (additional cover)
- A single policy for groups of at least 10 people
- Employer-paid premiums can be recorded as an expense
- Joiners and leavers added or removed during the year by endorsement
What you should know
In Quick Hayat's group term life product, insured members must be aged 18–74 at entry, cover cannot extend beyond age 75, and the policy term is one year. Conditions may vary by insurer.
The expense treatment of premiums and the tax position for employees are determined by legislation. We recommend clarifying the accounting and payroll side with your financial adviser.
Frequently asked questions
Group term life is issued for groups of at least 10 people. For smaller teams we can look at individual term life policies.
The leaver is removed from the policy by endorsement, and new starters are added the same way. We follow up these list changes on your behalf.
Group life covers death regardless of cause, subject to policy exclusions. Group personal accident only pays for death and disability caused by an accident. The two can also be combined.
The information on this page is for general guidance and does not replace policy wording. Scope of cover, limits, deductibles and exclusions are determined by the general and special conditions of the insurer you choose.