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Group Life Insurance: How does it work?

Access Blog Admin
April 29, 2022
1 min read
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Life insurance is generally a way to protect a loved one from financial difficulty in the case of the death of the policyholder. It can help cover certain expenses, a child’s education and even debt.

One can get life insurance through their employer or by buying  it on your own. Research has shown that a good number of people who have any form of insurance got it through their employers.

However, with this life insurance, the employer pays the monthly salary minus the monthly premium, or pays the premium without deducting the salary. In any case, with group life insurance, employees pay very little for proper protection.

In the unfortunate case of death, the amount of coverage that an employee or their dependents will receive is based on either the employee’s earnings or a flat amount. The choice is up to the employer, but they can also mix and match by specifying different amounts of premiums for different classes of employees.

All in all, Coronation Group Life Insurance meets the life insurance needs for the employee and allows the employer provide same for them at an affordable and flexible rate.

For more enquiries, contact 2341-2774500 or email contactcentre@coronationinsurance.com.ng

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Access Blog Admin
Our blog is dedicated to exploring the latest tech trends and innovations, from AI and machine learning to blockchain and virtual reality. We're a community of tech enthusiasts, entrepreneurs, and developers who are passionate about pushing the boundaries of what's possible.
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