This cover operates on a 24 hours basis irrespective of whether or not injury occurred while at work. The injury or death however, must result from an accident and not from natural causes.
The employer in whose name the policy is issued may elect to have the employees named specifically in the policy. Alternatively, cover can be provided on un-named basis where all employees within a particular class or description are covered. The benefits can be based on fixed sums or linked to the estimated total annual earnings of the employees as a given multiple.
Where this is the case, a declaration of the actual number of employees and their renumeration is to be forwarded at the end of a given period of insurance and the premium adjusted accordingly.
Benefits usually in multiple of annual salaries are paid in the event of death or permanent disability. The policy will also pay a weekly benefit up to 104 weeks, in the event of any employee being temporarily disabled. The amount of benefit here usually does not exceed the employees’ actual weekly earnings and the medical expenses are taking care of as a result of the injury sustained.
Having a group cover attracts discount on the premium to be paid.