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Group Life Insurance

A multiple of salary to the family, for less than most employers expect.

Group life insurance does one thing, and it does it on the worst day a company has. If an employee dies, the policy pays a lump sum to their family. No means test, no argument about entitlement, no collection at the office.

Most employers are surprised by what it costs, because they price it against how serious it sounds rather than against the odds. For a young workforce it is one of the cheapest benefits on the schedule, and it is the one people quietly notice you arranged.

How the cover is set

Almost always as a multiple of annual salary, commonly somewhere between one and four times, applied consistently across the group or tiered by grade. Two details are worth getting right at the start. First, what counts as salary, because basic pay and total package produce very different payouts. Second, the free cover limit: the amount each member is covered for without any medical questions. Below it, everybody is in. Above it, individual members need medical evidence, and that is where schemes stall if nobody planned for it.

What it sits next to

Group life pays on death. It does nothing for the employee who survives an accident or a serious illness and cannot work, which is a more likely outcome and a more expensive one for the family. Group disability and accident covers that gap, and the two are usually placed together because the underwriting overlaps.

It is also separate from end of service gratuity, which your employees are entitled to regardless. If that liability is sitting unfunded on your balance sheet, pension and retirement planning is the page to read next.

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Get in touch with the expert advisers at Continental

Tell us your headcount, your salary bands and the multiple you have in mind. Your advisor prices it across leading insurers and shows you what moving the multiple up or down actually costs.

For group life cover priced properly, talk to us today.

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Group Health Insurance for SMEs

Group medical cover for small businesses in the UAE, from three employees, compared across the insurers who actually want small groups.

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Group Health Insurance for Mid and Large Corporates

Corporate medical cover for larger UAE employers: tiered benefits, claims-led renewals, reporting and cover that crosses borders.

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Group Disability and Accident

Group personal accident and disability cover for UAE employers, paying lump sums and replacing income when someone cannot work.

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Pension and Retirement Planning

Workplace savings and end of service funding for UAE employers, so a long service liability is set aside rather than carried.

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FAQ

1. How much does group life insurance cost?

Less than most employers guess. Pricing follows the age profile of your team, the multiple of salary you choose and the nature of the work. For a young office-based group it is usually a small fraction of what the medical plan costs.

2. Do employees need medical checks?

Not up to the free cover limit, which is set for the scheme as a whole. Members insured for more than that limit, usually the highest earners, will need to answer medical questions or provide evidence. Plan for it early so nobody is left uncovered while paperwork moves.

3. Who receives the payment?

The employee’s nominated beneficiaries, or their estate where no nomination exists. Keeping nominations up to date is worth building into your joiner process, because an out of date form causes real delay at the worst possible moment.

4. Does the cover apply outside working hours?

Group life is normally worldwide and around the clock, not limited to the workplace. Some policies carry exclusions, for hazardous activities or specific regions, so it is worth reading those against what your people actually do.

5. What happens when an employee leaves?

Cover ends with employment. Some insurers allow a leaver to convert to an individual policy without fresh medical questions within a set window, which is a genuinely valuable feature and one worth checking before you place the scheme.