WORKMEN'S COMPENSATION INSURANCE

By virtue of the Workmen Compensation Decree No. 17 of 1987, every employer of labour is required to provide the following benefits for injury to employees and for diseases sustained by them arising from their employment:-

Death	42 months salary
Permanent Disablement	54 months earnings
Temporary Total Disablement	Payable for 24 months on the basis of basic salary for first 6 months, half salary for next 3 months and quarter salary for remaining 15 months.
Medical Expenses	Unlimited
Burial/Funeral/Transport Expenses	Reasonable expenditure

 

GROUP PERSONAL ACCIDENT INSURANCE

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GROUP PERSONAL ACCIDENT INSURANCE

This  provides benefits to employees in the event of their sustaining any injury which may result in death or permanent disability.  Cover operates on a 24-hour basis irrespective of whether or not the injury was sustained at work.  The injury or death must however result from an accident and not from natural cause(s).

Benefits, usually in multiple of annual salaries, are paid in the event of death or permanent disability, weekly benefits up to 104 weeks and medical expenses incurred on any employee as a result of an accident (up to an agreed limit stated in the policy) is payable.

STAFF RETIREMENT BENEFIT SCHEME/PENSION

A retention of a loyal and hardworking staff is pre-requisite for a stable and progressive organization.  To achieve this, a well designed Pensions Scheme is the answer. Pension or retirement benefit is a benefit provided for employees who cease to be employed either on retirement or on changing jobs.

The cover provided by our well packaged schedule includes:
            1.         Death-In-Service Benefit
            2.         Withdrawal Benefit
            3.         Disability Benefit, which can lead to early retirement
            4.         Normal Retirement Benefit

GROUP LIFE (DEATH-IN-SERVICE) BENEFIT SCHEME

The Group Life Assurance Scheme provided by us is distinct from the retirement benefit scheme.  The Group Life Assurance policy pays the stated lump sum cash benefit to the employees beneficiary if the employee dies (from whatever cause) while still in the service of the employer.

The benefit for the Group Life Assurance policy could be one, two or three times an
employee's annual salary.  Disability Benefit could be provided as a rider to the Group Life
policy on request, and this attracts a very small additional premium.