Group Life Assurance provides death benefit cover on lives of employees with an optional additional disability benefit payable if the employee becomes permanently and totally disabled, while in the employment.

Pension Reform Act (PRA) 2004 made Group Life Insurance compulsory for all establishments and companies employing 5 persons or more in Nigeria.

The Act under Section 9 subsection (3) states: In addition to the rates (of pension contribution) specified in sub-section (1) …,employers shall maintain life insurance policy in favor of the employees for a minimum of three times the annual total emolument of the employee”. This means 300% of annual total emolument.

Emolument” means a total sum of basic salary, housing allowance and transport allowance.

United Metropolitan Nigeria Life Insurance leverage on our expertise to provide our clients with competitive rating and 48 hours claims settlement upon proper documentation in this line of business.

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