GROUP LIFE/ GROUP DISABILITY INSURANCE

Group Life / Group Disability Insurance is designed to provide benefits to employees’ beneficiaries in case of death or disability of an employee
while in service.

 

When you work for an organization, you do your best to give your all. Your time, mental and sometimes your physical abilities are all invested in the growth and development of this said organization. But what does your company, firm or institution give you back in return? How do they appreciate all your efforts? Is it in salaries? Wages? Whatever it is, if it doesn’t come with group life insurance, then it’s simply not enough. 

What is Group Life Insurance?

 Group life insurance is a life insurance policy that ensures that a prescribed tax-free amount of money is awarded to the beneficiaries (families) of employees currently working in an organization or company. It is made available by the employers of the said organization in the case where the employee dies in active service with the policy still active and ongoing.

 By law under the Federal Republic of Tanzania, all employers are directed to make available group life insurance for their employees. Any company who doesn’t make provision for this is in complete contradiction of the laws of Tanzania. It is an employee’s right to have group life insurance set up for him or her.