Generali PanEurope offers a range of additional covers that can be incorporated into a company’s Group Risk plan.
Spouse’s and Children’s Pension
This cover provides a guaranteed regular income for an employee’s spouse and children in the event of an employee’s death. Income can be paid for the lifetime of the spouse or can cease on remarriage depending on the scheme design. It can also be set to increase during the course of payment to provide some protection against future inflation.
By providing this cover, an employer helps to protect the families of their employees so that in the event of an employee’s death they are not be left to deal with the financial demands of everyday life on their own.
Accidental Death and Dismemberment
This cover ensures that an employee’s dependents will receive a lump sum payment should an employee die as a result of a work accident. The benefit is usually based on a multiple of salary or a fixed sum and is paid in addition to the Group Life benefit.
If, during the course of their employment, an employee suffers an accidental dismemberment, or the loss of use of a limb, the cover provides the employee with a lump sum payment to help alleviate any associated financial strain. Cover is not restricted to an accident during working hours but is provided all year round.
Waiver of Premium
In the event of an employee’s long term disability, life cover premiums or pension contributions may no longer be payable by the employer or may not be affordable for the employee.
Waiver of Premium cover can be purchased to ensure that premiums are paid during disability so that there is no loss of benefits to the employee, allowing them to focus on recovering and returning to work.
In the event of disability, Waiver of Premium cover will continue to pay Group Life premiums and/or the employer’s and employee’s pension contributions. These payments will continue, at no cost to the employer, while there is a valid disability claim and while the Group Life plan and/or Group pension scheme is in place.
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