- Financial Security for Employees and Dependents
- A Cost-Efficient Solution
Benefits of Group Life Takaful Cover
Group Life Takaful provides comprehensive coverage designed to offer financial protection and peace of mind to employees and their dependents.
- Employee Attraction and Retention
- Employee Productivity and Morale
- Competitive Advantage
- Reduced Financial Strain on Employees
- Employee Loyalty and Engagement
- Affordability
- Simplified Administration
- Support for Employees in Difficult Times
Scope of Cover
Group Life Takaful offers a broad and flexible scope of coverage, providing essential financial protection to employees and their dependents. By tailoring the policy to meet the needs of the workforce, employers can offer a valuable benefit that enhances employee security and well-being.
- Basic Cover (Natural & Accidental Death) - Payable in the event of death participant before the expiry date of the contract due to sickness, accident or any natural cause.
- Funeral Expenses Cover – An immediate lump sum payment in the event of the death of the covered member.
- Critical Illness Cover – Payable in the event the participant being diagnosed or having to undergo surgery for the 1st time for stated 11 critical illnesses.
- Waiting Period – 3 months
- Survival Period – 1 month
Cover Details
| Cover Description | Amount (MVR) |
|---|---|
| Basic Cover – Natural Death Cover | MVR 100,000 |
| Accidental Death Cover | MVR 100,000 |
| Permanent Total Disability | MVR 100,000 |
| Critical Illness Cover | MVR 50,000 |
| Funeral Expenses Cover | MVR 5,000 |