Group Life Insurance and Group Income Protection Insurance Explained
What is Group Life Insurance?
Group Life Insurance is an Insurance Policy that covers an entire group of people, those people have some sort of common connection (either an employer or an organisation). If an insured person dies, the insurer will typically pay a lump sum to the beneficiaries of the deceased. This type of policy is typically bought by an employer or representative body. The policy covers the employees of the company or the organisations members.
What is Group Income Protection Insurance?
Group Income Protection Insurance can benefit employers by providing support to employees through times of sickness by helping them get back to health, thus reducing the amount of time they are absent from work. Group Income Protection Insurance benefits employees by providing continued income if they are sick or incapacitated. This helps relieve financial stress at a very difficult time. Contact IFC Finance today to discuss Group Life Insurance and Group Income Protection insurance with one our experienced Financial Advisors. IFC Finance also offer Income Protection and Life Assurance for individuals.
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