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Employee Protection Plan

Employee protection banner2

Invest in the health, well-being and families of the people who are crucial to the success of your business

 

 

 

 

 

 

 

SOME OF THE BENEFITS

Death and disability

Your employees can be covered for up to R100 000 for death and disability

Monthly expenses

Each person covered on the policy also qualifies for R1 000 per month for three months

Funeral cover

Your employees, spouse (if married) and up to five children are also covered

Additional benefits

Emergency medical assistance, trauma counselling and funeral assistance
FAQs

Frequently asked questions

  • What happens when I leave my current employer and still want to continue with the scheme?

Your new employer will need to take the scheme for his/her employees and if this takes place within two months of your leaving the previous employer, there will be no waiting period applied.

You can take out the FuneralPlan for yourself by calling our call centre on telephone 0860 123 999 and they will gladly assist you

  • Am I able to change my spouse or beneficiary details in future?   

Yes, you can change your spouse or beneficiary details should you choose to. Please note that only one spouse is allowed per main insured. A new 6 months waiting period will apply for the new added spouse. The beneficiary can also be changed at a later stage should the need arise.

  • To whom are the benefits paid?
  • The benefit for disability is paid to the policyholder
  • The benefit for death and funeral is paid to the nominated beneficiary
  • The beneficiary must be a natural person from ages 18 years
  • What happens if I relocate or move to another country, does the policy still cover?

If you relocate due to work and if you are still a South African resident and employed by the same employer, then you can keep it. If you relocate and take up citizenship of another country- and are no longer employed by the same South African employer, it is not possible to continue with the policy because the policy covers people permanently residing within the borders of South Africa.

  • What other benefits do I get from this policy as an employee?   

In addition to the cash benefits, you also receive assistance with body repatriation, lifestyle advice on matters such as obesity, diabetes, immunization and epilepsy. You also get help with Trauma counselling for traumatic incidents.

  • How many children are covered under this policy?

Maximum of five children are covered under the Family Funeral Plan benefit.

 

 

  • Can my employer upgrade our policies to a higher benefit in the future?

Yes, your employer is able to upgrade the scheme and plan originally selected with a new higher benefits plan or even downgrade to a lower plan. Please note that the entire scheme has to be upgraded or downgraded. If the migration is to higher benefits, there will be additional waiting period to the difference in benefits from old to new. If the migration is to lower, there will be no additional waiting period.

  • How will my family know how to claim in the event of my death? 

Your family can approach the nearest Standard Bank branch with your ID or call our call centre for assistance on 2517 5300 or approach your employer.

How To Get It

Get a quote

Email us:  [email protected]

Call 2517 5300

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance.

What’s Covered
  • Group Life Assurance (GLA)

GLA provides the member with the peace of mind that their family will be taken care of if they are no longer there to support them. Pays out a lump sum in the event of death of the member before retirement.

  • Permanent & Total Disability (PTD)

The benefit protects the member against the loss of earning potential, if he or she becomes disabled and is unable to work. It pays a lump sum in the event of a permanent disability of the member before retirement. The PTD benefit is taken together with the GLA benefit.

  • Group Funeral Plan

The Funeral benefit pays out a lump sum in the event on the death of the employee, spouse or children before the retirement of the employee. The purpose of this benefit is to provide cover to assist with the funeral costs. Cover is compulsory for all employees. Cover will apply to the main member, one spouse and up to 6 children. No waiting period will apply for main member and family funeral. Upon the death of the employee, there is an extra pay out for Grocery and Tombstone.

 

These products have been placed under one product for ease of accessibility. Cover is compulsory for all employees of the company.

Terms and Conditions

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance.

  • FAQs
  • How To Get It
  • What’s Covered

Frequently asked questions

  • What happens when I leave my current employer and still want to continue with the scheme?

Your new employer will need to take the scheme for his/her employees and if this takes place within two months of your leaving the previous employer, there will be no waiting period applied.

You can take out the FuneralPlan for yourself by calling our call centre on telephone 0860 123 999 and they will gladly assist you

  • Am I able to change my spouse or beneficiary details in future?   

Yes, you can change your spouse or beneficiary details should you choose to. Please note that only one spouse is allowed per main insured. A new 6 months waiting period will apply for the new added spouse. The beneficiary can also be changed at a later stage should the need arise.

  • To whom are the benefits paid?
  • The benefit for disability is paid to the policyholder
  • The benefit for death and funeral is paid to the nominated beneficiary
  • The beneficiary must be a natural person from ages 18 years
  • What happens if I relocate or move to another country, does the policy still cover?

If you relocate due to work and if you are still a South African resident and employed by the same employer, then you can keep it. If you relocate and take up citizenship of another country- and are no longer employed by the same South African employer, it is not possible to continue with the policy because the policy covers people permanently residing within the borders of South Africa.

  • What other benefits do I get from this policy as an employee?   

In addition to the cash benefits, you also receive assistance with body repatriation, lifestyle advice on matters such as obesity, diabetes, immunization and epilepsy. You also get help with Trauma counselling for traumatic incidents.

  • How many children are covered under this policy?

Maximum of five children are covered under the Family Funeral Plan benefit.

 

 

  • Can my employer upgrade our policies to a higher benefit in the future?

Yes, your employer is able to upgrade the scheme and plan originally selected with a new higher benefits plan or even downgrade to a lower plan. Please note that the entire scheme has to be upgraded or downgraded. If the migration is to higher benefits, there will be additional waiting period to the difference in benefits from old to new. If the migration is to lower, there will be no additional waiting period.

  • How will my family know how to claim in the event of my death? 

Your family can approach the nearest Standard Bank branch with your ID or call our call centre for assistance on 2517 5300 or approach your employer.

Get a quote

Email us:  [email protected]

Call 2517 5300

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance.

  • Group Life Assurance (GLA)

GLA provides the member with the peace of mind that their family will be taken care of if they are no longer there to support them. Pays out a lump sum in the event of death of the member before retirement.

  • Permanent & Total Disability (PTD)

The benefit protects the member against the loss of earning potential, if he or she becomes disabled and is unable to work. It pays a lump sum in the event of a permanent disability of the member before retirement. The PTD benefit is taken together with the GLA benefit.

  • Group Funeral Plan

The Funeral benefit pays out a lump sum in the event on the death of the employee, spouse or children before the retirement of the employee. The purpose of this benefit is to provide cover to assist with the funeral costs. Cover is compulsory for all employees. Cover will apply to the main member, one spouse and up to 6 children. No waiting period will apply for main member and family funeral. Upon the death of the employee, there is an extra pay out for Grocery and Tombstone.

 

These products have been placed under one product for ease of accessibility. Cover is compulsory for all employees of the company.

Terms and Conditions

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance.