Group Life Orientation.mp4

Group Life:

This plan provides life insurance coverage, renewable every year. The insurance is payable in case of death of the insured from any cause of death to the designated beneficiary/ies upon presentation of proof of death, subject to the terms of the policy.


Group Living Benefit - pays 50% of the amount of insurance, max of PHP 3.5M if the insured is diagnosed to be terminally ill and has a life expectancy of 12 months or less, as certified by a qualified physician.



Total and Permanent Disability - defined as disability resulting from an illness or accident, which prevents the insured from engaging in any business or occupation for compensation, profit, or gain. It is presumed to be permanent and will continue during the remaining lifetime of the insured.

 

Probationary Status:

  Personal Accident: Php300K

  Burial Assistance: Php60K


Regular Status (6 Months):

  **No Evidence Limit (NEL): Php62.2M (The No Evidence Limit (NEL) is the amount of coverage that each policy member within a Group Life Insurance can have without any requirement of medical evidence or underwriting.)



Termination:

  Life - 70th Birthday

  Personal Accident, Total and Permanent Disability, and Group Living Benefit - 66th Birthday

  **Note that the policy is a co-terminus to the employee's employment in the company.