Group Term Life Insurance
An important component of any Employee Benefit program, Term Life insurance offers vital financial protection to employees and their families. Term Life Insurance is a benefit often included in Employee Benefits programs to enhance an employer’s talent attraction and retention rates.
In the event that a covered employee suffers death within the term of the policy, a lump sum payment is made to the individual’s beneficiaries. If a claim has to be made under a Term life insurance the payment is generally used for:
- Paying off mortgages
- Paying for dependents’ education
- Consumer debt
- Funeral costs
Group Term Life insurance is life insurance that is payable at a fixed rate each year over a period of time. Coverage under a Term life insurance policy is valid until the last day of the prearranged term.
Similar to other Group Employee Benefits, employers can lower the costs of Term Life Insurance premiums by taking out Group Term Life Insurance policies.
Expat Insurance can help your organisation find the right level of coverage for Group Term Life Insurance. We can also inform you of the additional options employees have to top up the coverage provided in their employee benefits package.
Call us now at 3563 9771 and speak further to an Expat Insurance adviser about your plans
* Important Note: The contents of this website are not a contract of insurance. The exact terms, conditions & exclusions of insurance are specified in the policy contract.
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