This policy provides compensation to your employees against injury or death resulting from Accident.  The insurance is on 24 hours basis and benefits could be arranged against accidental death, permanent disability, temporary total disablement and medical expenses.  This would serve as an additional incentive to your staffers.

This policy is usually arranged for the workmen at contract site factory etc, to cover accidental injury or death arising whilst the workmen is at work.  The benefits usually covered are as follows:

1. Death – 24 months total earnings
2. Permanent Total Disablement – 54 months total earnings.
3. Permanent total And Partial Disablement as per sliding scale.
4. Medical Expenses incurred.

The Workmen’s Compensation ordinance requires each employer of labour engaged in specific activities to pay specified benefits to his worker’s who are injured in course of their employment.

This policy is arranged for your employers in service against the incident of death, whether such death is accidental or natural.  The sum assured on each employee may be in multiples of the annual salary up to a maximum of five times the annual salary.  This may serve as a supplementary to the pension scheme arrangement.

As it is usual for every employer of labour to give the retiring employees some form of staff retirement benefit, it becomes necessary that a form of pension or staff retirement and death-in-service benefit scheme be arranged in your office.  Under this arrangement the contribution of both the employer and employees are placed in the hands of an insurance company, which manages and administers the scheme fund on behalf of the Board of Trustees. The Employer’s contribution is used to purchase Endowment Assurance Contract, which matures at the Retirement Age of the employee concerned.  The benefit under this is payable either on retirement or earlier death of the employee.  The employer’s contribution is used to purchase pure endowment Contract.  This contract pays benefits to the employee on retirement.  At death or withdrawal, only employees’ contribution plus interest are refunded. There are three methods of arranging a scheme for your members of staff as follows:

1. You to provide the retirement benefit to your staff retain self-Administered Scheme – the total contribution. You will make provisions for investment of the fund and other actuarial valuation requirements.On appointment, we may assist you in arranging the scheme.


2. Deposit Administration – This is where the total of employer’s contribution is deposited with an insurance company for their administration. There is a guaranteed interest rate to be added to the fund compounded yearly.


3. Insured Scheme – Under this arrangement, the administration of the scheme is left with an insurance company. The fund is used to purchase an Endowment Assurance, which covers employees earlier death or retirement.  A pure endowment could also be purchased to cover the employee until he retires and then benefits.