Group Life Assurance Policy


Group Life Assurance scheme is a term assurance which seeks to cover a group of people which may be employees of an organisation, or union or organisation members. Administration of the scheme is on group basis and cost is low. Under the Group Life Scheme, life insurance cover is allowed to all the members of a group not on proof that each and every life insured in the scheme is a good risk rather the size, turnover and financial strength are the key underwriting considerations. Scheme offers covers only on death and there is no maturity value at the end of the term.


It enables an employer or a group to make provision for the dependants of employees or group members who die while in service. The premium is usually low and the normal terms are that cover continues as long as the employee continues to work for the employer or belong to an association. Therefore, cover will cease if the person insured leaves service or retires. The Scheme offers only death and there is no maturity value at the end of the term.

Level of Benefit Available

The employer or organisation decides on the level of cover they want and in most circumstances it is either the salaries of members or fixed amount.

Premium Payable

Our Group Life Scheme is an annual cover which is renewable. Our premium at inception and renewal depends on the Capital Benefit (Annual Salary or Fixed Amount) and the age profile of the persons to be covered.

Increase of the Level of Benefit

This could be done. However, increase in the benefit attracts increase in premium.

Inception of Cover

The policy can start running after the payment of the first premium.

Renewal of Cover

The policy is renewed after the payment of renewal premium.

Premium Payment Methods

Premium is paid Yearly

Multiple Accident Benefit Extension Multiple Accident Benefit, i.e. payment of two, three or four times the sum assured on death due to accident, can be covered under our Group Life Schemes for an extra premium.

Claim Procedures

All claims should be reported at the Life Department of the Company, Second Floor, Kissy House, 54, Siaka Stevens Street, Freetown. The documents required are

Death Claims:
  • Death certificate
  • Cause of Death Certificate
  • Policy Document
Non-Payment of Policy Proceeds
Benefits due under the policy shall not be paid in any of the following circumstances:
  • The information you provided on the Proposal or Application Form was not correct
  • Non-payment of premiums
  • Death due to an Excluded cover