Objective
The objective of the plan is to provide employment benefits to employees by assuring them that in the unlikely event of death a multiple of their annual salary will be provided to their spouse and children as replacement income to cushion the effects of death.

Benefits
Death benefit shall be a pre-determined multiple of each employee’s annual salary or a fixed sum according to a predetermined formula. Accidental injury benefit can be added as a rider to provide for payment of both permanent and temporary disablement as well as medical expenses claim arising out of an accident.

Premiums
Premiums shall be determined for the group and paid wholly by the employer or with contributions from the employees.

Underwriting requirements
Medical examinations are normally not required.  But individuals whose benefits exceed an automatic cover limit to be determined for the group will be required to submit evidence of good health.  The automatic cover limit will depend on the number of lives to be covered and the salary range.