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What is Group Insurance?

Group Insurance or Group Salary Continuance is similar to Income protection but is designed for a specific Industry or occupation. It is known as Automatic Acceptance Level.  The automatic Acceptance Level has three (3) major advantages. 

1) Regardless of any medical conditions/ health status you are covered at the same price as all other members.                       Examples of conditions that would Not be covered or would be charged a loading outside of a Group policy: Type 1 Diabetes, Heart Disease, High Blood pressure, High Cholesterol, a Smoker, BMI of 30+ - its all covered for the same price.                    

2) Because of Group minimum member requirements the policy cost could be upto 35%+ lower than at the normal retail level.

3) Guaranteed coverage.                                                                                                                                                              

Group Insurance or Group salary continuance generally pays a monthly benefit of up to 75% of your income, once your selected waiting period has passed. It is paid out to you in the event you cannot perform in your usual occupation due to any illness or injury that occurs to you. It simply acts as a replacement income for you, should you be unable to work. It is designed to cover your usual bills, rent/mortgage, living expenses or whatever it is that you generally spend your income on. **There are minimum member requirements for each Insurer.

What is Group Life cover?

Group Life cover pays a lump sum upon the death or terminal diagnosis of the life insured for a specific Industry or occupation known as Automatic acceptance level (same conditions as above).

This provides protection to your loved ones in the event of the persons death the lump sum will assist in paying off any outstanding debts such as a mortgage. There should usually be excess over debts to assist your family especially if you have children. **There are minimum member requirements for each Insurer.