What is annuitant group life cover

The cover allows an individual to choose from predetermined levels of sums assured and their respective premiums. It is accessible to individuals between the ages of 40 – 70 years and includes those who leave formal employment either through retirement (early, normal, late) or retrenchment.

The policy will pay out the benefits in cash as a lump sum and the risk events covered are death and critical illness.

Payable premiums and payments

Premiums are predetermined based on the level of sum assured that a client selects. The premium is payable as a lump sum, at the onset of the cover.