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INTRODUCTION OF GROUP LIFE INSURANCE
•         Group Life Insurance has been designed to cover in the employee’s benefit package at appropriate rates of premium with a minimum of medical evidence and administration.
•         Unlike individual insurance, the Group insurance premium is calculated on the entire group’s risk characteristics such as the age and occupation/gender mix of the employees to be covered. An attractive package often costs a few percentages of a company's total payroll.

WHY IS GROUP LIFE INSURANCE NECESSARY?
•         Group Life Insurance program is a popular selection for businesses over the world generally & South East Asia in particular. Insurance coverage to employees is considered as part of their employees’ benefits provided by employers.
•         With the insurance program, it allows employers to enhance the employees’ benefit and welfare at a moderate cost and undoubtedly increases the employee/employer relationship, loyalty and commitment.
•         Group Life Insurance of Dai-ichi Life Vietnam is a fully-sensible financial solution to help businesses to protect invaluable property.

KEY FEATURE & BENEFIT
•         Employer of an identifiable group of: At least 20 permanent employees (*)
•         Life Insured Entry Age: 18 – 60 (age of last birthday)
•         Maximum Age at Expiry:
o       Cover ceases at the employee’s normal retirement age (55 for Females & 60 for Males).
o       Cover may be extended beyond the employee’s normal retirement age up to age 70 for individuals.
•         Premium: Based on the group size & yearly changed, which depends on age and practical experience of insurance process.
•         Payment frequency: By annually (*)
•         Policy term: Yearly renewable
•         Insurance benefits:Benefit design is flexible and can be tailored to meet an employer’s needs:
o       Basic benefit: 100% of the Sum Insured (In case of death of Life Insured during the term of the policy)
o       Extra benefits:
         Accidental Death and Disability insurance (ADD)(**):
-               100% of the ADD Sum Insured in the event of death by accident; or
-               % of Sum Insured based on the percentages of injury, which is stipulated in the Schedule of event & benefit.(***)
 
         Accidental Death insurance: 100 % of AD Sum Insured in case of death by accident.
 
         Total and Permanent Disability insurance(TPD): provide an advance of the Group Life Sum Insured up to the specified TPD Sum Insured, in case of total and permanent disability of the life insured.
 
  1. Notes:
  2. -                (*) Some exceptional cases will be negotiable.
  3. -                (**) Policy may have an ADD or AD benefit but not both.
  4. -                (***) For further information, please contact us or refer to policy wording in details.