This type of cover is provided for a group of employees who work under one organization or who are members of any legally established associations like trade unions, professional associations, etc.
Covers Provided Are
• Natural Death- the cover amount
• Accidental death – Double the cover amount
• Accidental disabilities:
• Hands - the sum assured
• Legs - the sum assured
• Eye sights - the sum assured
• Total and permanent paralysis - the sum assured
• Permanent loss of use of any part of the body-some definite percentage of the sum assured.
Premiums – very low.
Procedures – very simple.
What are Riders? – (Sweeteners)
Riders “Sweeteners” as they are also called are additional coverage’s that are marketed with endowment policies at minimal additional premiums.
< UNIC – ETHIOPIA > offers the following riders with its endowment policies:
1. ACCIDENTAL DEATH COVER – pays the sum assured in case the death of the assured is caused by an accident. This payment is, of course, in addition to the basic sum assured.
2. JOINT LIFE COVER – allows life cover to extend to cover spouse. Benefits are paid on maturity or first death.
3. WAIVER OF PREMIUM COVER – allows the premiums to be waived during the term of the policy should the assured become totally and permanently disabled due to an accident or sickness.
< UNIC-ETHIOPIA > offers a variety of modern life assurance policies and riders.
Ahead of you lies the responsibilities that form part of every normal happy life. Life assurance in one form or another provides you with a secure future.