For employers looking to improve their benefits package without a large cost, group life assurance is usually the best value on the table.

What it is

Group life pays a lump sum to an employee’s nominated beneficiaries if they die while in service, often expressed as a multiple of annual salary. Most schemes can be extended to cover permanent disability and critical illness.

Why it works

Because the risk is spread across a group, the premium per employee is a fraction of what an individual policy would cost. Underwriting is usually simplified, and in smaller schemes there may be no medical requirements at all up to a free cover limit.

What to watch

Check the free cover limit, the terminal age, and whether cover continues during extended sick leave. These vary considerably between insurers and they matter at claim stage.

We place group life schemes for organisations of all sizes across Zambia. If you would like a comparison of what the market would offer your staff, get in touch.