Group Life Cover

Group insurance provides cover for groups of people linked by a common factor such as employment of a company or members of a superannuation fund.

The types of insurance cover generally includes part or all of the following options:

• Life insurance
• Total & Permanent Disability
• Critical Illness
• Salary Continuance

The policy owner of the plan (eg. employer or super fund trustee) will generally select the range of benefits for the plan. Most insurers have a minimum number of individuals required prior to the policy being underwritten as a 'group'. Depending upon the insurance company, this can range from a minimum of 20 members upwards.

Benefits for taking out Group Cover include:

• Automatic acceptance limits which can cover members up to a pre-determined level without evidence of health.
• Tailor options to suit your needs.
• Insured members can receive monthly benefits to replace lost income whilst they are totally disabled.
• Continuous reviews, so that benefits are based on the member's current salary at the time of claim.
• Members can remain covered while on leave of absence or parental leave.
• Cover is available for members seconded overseas
• Continuation and replacement cover options for members leaving the plan.