Life insurance offers financial protection to the insured. However, not all life insurance policies are individual. Many companies and organizations have their employees’ lives insured for several reasons. In such a case, the life insurance policy is called group life insurance, and the coverage differs from that of the individual.
A group life insurance policy is a single contract that covers an entire group of people. Typically, the policy owner is the employer, and the policy covers the members of the group (i.e., employees).
Group life insurance saves employers money. Instead of buying each employee individual life insurance, group life insurance offers the insured (i.e., group of employees) coverage at a reasonable cost.
All the paperwork is arranged and done at once. Usually, the required documents are a part of the employee’s file, and with a good insurance company, and in cooperation with your HR department, the process of issuing a group life insurance policy should run smoothly.
Even employees with serious illnesses may get qualified and insured. Even if an employee doesn’t find the group insurance coverage sufficient, they may apply for supplemental plans.
A group life insurance policy is a highly-valued employee benefit. It attracts top talents and alleviates financial stress on them. In other words, one of the best life insurance advantages is that employees will feel secured and less distracted. Hence, they become more focused and productive
As we know, not every person has the same plans, and not every employee has the same needs. Some have larger families, while others are in high-risk jobs. This is why a personalized life insurance policy for corporates provides the flexibility both employers and employees seek.
In addition, Beema’s Group Life Insurance for corporates doesn’t limit itself to corporate employees. Beema Family Takaful Insurance is the most significant way to ensure financial protection for you, your family, and your loved ones when you meet a loss. Having a suitable family Takaful is an irreplaceable need, and for that, we continuously work hard to find easy and convenient solutions to ensure protection for your family.
Takaful the best life insurance basic plans for families with coverage of the following: