Group Life & Personal Accident Insurance : FAQ

  • What is Group Life insurance Coverage??

    Group life insurance covers the lives of multiple persons such as all employees of a business, members of a labor union, or members of an association. Depending on the group life insurance policy, the insured person may receive life insurance coverage as an employee benefit.

  • What is the difference between Individual and Group Life Insurance??

    Unlike an individual life insurance policy, group life insurance coverage is not based on the risk associated with an individual person.  Group life insurance policies are established based on the risk factor of the group as a whole, so higher risk members of the group are protected from being adversely singled out and either excluded or forced to pay more.

  • Is there a cash value to my Group Life Insurance??

    No. The group life insurance coverage offered has no cash surrender value.

  • What happens to my group life insurance if I retire??

    The group life insurance coverage expires on retirement. 

  • What happens to my Group Life Insurance if I go on a leave of absence??

    If you are on an approved leave of absence by your employer, you may continue to have coverage. 

  • What is the scope of group life coverage??

    The group life coverage is 24 hrs. worldwide.