A yearly renewable term life insurance. It pays the face amount of the policy in case a member of the group dies due to natural and accidental causes within the coverage period (term). This policy likewise indemnifies the insured in case of permanent disability or dismemberment.
What are the information/documents needed for Group Term Life and Personal Accident Insurance?
With Existing Plan
Standard Group Term Insurance covers the following:
- 24-hour coverage against loss of life due to natural or accidental causes
- Insurance protection without geographic limits
- Accidental Death and Dismemberment (AD&D)
- Total and Permanent Disability Income Benefit (TPDIB)
- Terminal Illness Benefit (TIB)
- Burial Benefit
- Accidental Medical Reimbursement