Group Life Assurance
Who takes care of your loved ones when you are gone? Imagine if you could still provide for your family from the grave?
How it works:
The Group Life Assurance scheme is an arrangement entered into between the employer and Zimnat Life Assurance, for the benefit of you the employee. Zimnat Life Assurance promises to pay a lump sum death in service benefit to your beneficiaries, in exchange for a premium received from the employer.
- The company effectively manages cash flow by transferring the lump sum payments to Zimnat Life Assurance.
- Higher life assurance benefits can be used to attract and retain high calibre staff.
- The benefit retains value as it is linked with inflation.
- Premiums are a tax-deductible expense for the employer.
Credit Life Assurance
Who protects a loan provider from financial loss in the event of a disability, death or unemployment of the loan policy holder? This is the purpose of Zimnat Credit Life Assurance Scheme.
How it works:
. It is a contract entered into between Zimnat Life Assurance and a loan provider, usually a financial institution, for the benefit of the policyholder, in which Zimnat Life Assurance pays out a lump sum benefit equivalent to the outstanding capital on a loan, on the death or permanent disability of the policyholder.
- Cover commences immediately on receipt of premiums.
- Death caused by pre-existing conditions is not excluded.
- Eliminates the need for immediate family members to service a loan left behind by a deceased
Spouses Group Life Cover
This benefit is typically meant to replace income lost as a result of the death of a suppose. The benefit is equal to 50% of the member’s Group Life Cover and is paid as a once off lump sum.
With Zimnat Life Assurance you can secure the educational needs of your employee’s children should an employee pass on. The benefit is equal to 50% of the employee’s Group Life Cover and will be managed by Zimnat and paid in installments directly to the school on a termly basis.