Group Life Endowment
Group Life Endowment Insurance provides financial protection to employees’ families or dependents and offers a retirement benefit to employees. The benefit is payable in the event of the life assured’s death during the p...
About this cover
Group Life Endowment Insurance provides financial protection to employees’ families or dependents and offers a retirement benefit to employees. The benefit is payable in the event of the life assured’s death during the policy term or upon retirement from employment.
Key Features of the Group Life Endowment Package:
- Provides both death and retirement benefits
- Lump sum payment of the sum assured
- Includes savings benefits
- Premiums calculated based on the age of the life assured
- Standard rate applied to the sum assured
- Policy tenure is aligned with the employee’s years of service
Eligibility:
The Group Life Endowment product is designed for employers and organizations seeking to provide long-term financial security for their employees and their families.
Terms
- Cover begins once payment is complete and the certificate is issued.
- Claims are settled in line with the terms of your policy.
- NIC is registered and regulated by the Tanzania Insurance Regulatory Authority (TIRA).
This is a summary. The full terms are set out in the policy document you receive, and that document is what governs your cover.