It is a means of securing a Group of people against untimely Death or Accident/Sickness under a single contract called “Master Policy”.
There are three kinds of Group Life Products a client may choose depending on their needs:
Intends to help meet the immediate and future cash needs of the employees’ dependants or the designated beneficiaries.
Creditor Group Life Insurance is a special form of group life insurance issued to a Lending Institution to insure individuals who become indebted as a result of personal or real estate loans or consumer credit-transactions.
The debtor is insured for the amount of his outstanding indebtedness up to the maximum amount permissible under the policy.
In the event of death of the debtor while insured, the amount of insurance is paid to the Group Policyholder to be applied toward the outstanding indebtedness of the debtor.
Group UL is a two-way Protection and Savings scheme at the very least cost (being packaged as a Group Plan) possible to employees. This provides insurance cover and at the same time serves as a savings for them. NGI will invest the money and guarantees a minimum 3% Return on Investment.
Accidental Death Benefit ADB – additional 100% Life Sum Assured in respect of death due to accident
Permanent Total Disability (PTD) – a person suffering from severe disability
Permanent Partial Disability (PPD)
Total Temporary Disability (TTD)
Passive War Risk
Medical Expenses due to Accident
Repatriation due to death and disability
Critical Illness / Terminal Illness