Fresh take on group life cover
New offering claims to enhance cover for almost all workers
Your group life cover should help to plug the gap that most South Africans have between the life and disability cover they need and the cover they have. But many group life schemes are structured in such a way that they are unlikely to provide adequate cover at lower ages and may provide too much cover at higher ages. BrightRock, a relatively new life assurer, has entered the group life market with an offering it claims can enhance the amount of life, disability and dread disease cover employers can buy for almost all their employees by between 30% and 40%. CEO Schalk Malan says BrightRock believes its offering can enhance cover for 90% of employees. BrightRock provides an equal level of cover for lost income to all employees - for example, 30% of future income needs - with the insured amount that is determined by your age and income needs. Group life cover provided by employers or through retirement funds is an important benefit because most South Africans are woefully underinsured...
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