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Group Life Insurance Dubai

Group Life Insurance Dubai

Group Life Insurance forming an essential part of your company’s reward package, we offer cost effective Group Life Insurance in Dubai, UAE that provide a lump sum payment or income replacement in the event of an employee’s death, permanent disability or temporary incapacity due to accident/sickness.

Group Pensions
Planning for retirement and old age is something that we must all address at some point in our lives, but unfortunately for many it is often a case of ‘too little too late’.
Introducing a group pension arrangement to your company’s reward programme can bring about many benefits for both your organization and your employees, just some of which are:

  • Employee engagement
  • Talent management
  • Employer of choice (recruit, reward and retain)
  • Reducing attrition rates
  • Reducing reliance on cash compensation
  • Reducing costs associated with staff turnover
  • Corporate social responsibility
  • Platinum offer comprehensive plan design and consultancy, providing innovative and cost effective solutions


Group Medical Plan
Group Medical Plan designs to suit each employer's unique requirements. Our medical insurance experts will help you to determine the very best plan design, service features and coverage for your business needs. Coverage includes health, dental, drug, travel, life, accidental death & dismemberment, disability, dependent life and critical illness benefits.

Workmen Compensation
As an employer you have liability towards your employees on two fronts:
Under Labour Law - Labour Law generally stipulates that if an employee gets hurt whilst working, the employer is responsible for the resulting medical expenses, salary during absence and compensation for disability suffered. This is irrespective of whether the employer is at fault or not Under Common Law - If an employee suffers injury where he can reasonably attribute such injury to employer's negligence or fault, he may proceed for compensation under the Common Law to obtain higher compensation. We can protect this exposure by providing 'Employer's Liability Extension'.
 
Over and above the employees or their heirs may sue the Employer in a civil court under common law. The Workmen's Compensation policy will provide indemnification to the Employer against these risks.

Keyman Insurance
This insurance covers disruption in business due to loss or impairment of Key employees or key persons.  The aim is to compensate the business for losses incurred with the loss of a key income generator and facilitate business continuity..
 
Business can be put in serious jeopardy by the death of a key employee, a partner or key shareholder. It is possible to insure against death or illness of key persons in the organization whose continued presence is essential for continuance of the operations.

Generally, in case of a partner or a shareholder, the proceeds can be used to buy back shares in the name of that individual.
In case any individual in your establishment is identified as a Key Person central to continued progress of operations, we shall be in a position to provide cover.
Buy a policy that fits into your budget and will address your short-term cash needs in case of tragedy..

Group Life Insurance and Personal Insurance
The basic cover under a Group Life Insurance is accidental / natural death occurring to the insured person anywhere in the world.
Our innovative employee benefit solutions include tailor-made Group Life Insurance in Dubai, UAE that will suit your company's needs whether it’s a small entrepreneurship, a medium sized company or a multinational corporation. With excellent products and efficient claims support we will always be there for your employees.
 
This can be extended to include Permanent and Temporary Disability following Accidents.
The benefit limit per employee can be selected. The Workmen's Compensation insurance while providing benefits against industrial injury and death excludes natural death. Therefore, it is recommended that this cover be taken either as an extension of Workmen's Compensation insurance or independently as a standalone cover.
Group Life policy has a range of products provided by us. Tailor a Group Life Insurance policy today to reinforce your name as a caring employer and create a sense of belonging amongst your employees.

Critical Illness:
A health insurance plan that covers critical illness means you can insure yourself against the risk of serious illness in much the same way as you insure your car and your house. It will give you the same security of knowing that a guaranteed cash amount will be paid if the unexpected happens and you are diagnosed with a critical illness.
The basic cover provides financial protection if the assured is diagnosed as suffering from a (defined) critical illness.
This includes cancer, stroke, first heart attack, kidney failure, loss of hearing, loss of speech, benign brain tumor, etc. Various schemes designed to provide compensation to the assured and his family are available.

Gratuity Funding
In accordance with local labour laws, employees are entitled to receive an ‘end of service’ payment upon resignation or termination from their employer. The level of payment due is determined by length of service and final salary, so the employer’s final liability is unknown.
 
Unfortunately, with no legal requirement to physically fund or ring fence this liability, many companies in the region retain a growing exposure on the balance sheet, with the hope and expectation that general cash flow will always make these funds available. Concerns around this approach include:

  • Ever increasing liabilities
  • No segregation of assets
  • Employee insecurity
  • Exposing employee funds to risk as working capital
  • Future company valuations / IPO
  • Future cash flow uncertain

 
We offer innovative and cost effective structures/funding solutions to ring fence ‘end of service’ liabilities and help your organisation create an asset.


 

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