Permanent and Total Disability
- Lump sum payment is paid out to the bank/institution if the loan holder becomes permanently disabled and is no longer able to perform their job or a similar job
Temporary and Total Disability
- Loan installments for up to 6 months is paid up to the bank /institution if the loan holder becomes temporary disabled.
- The outstanding loan balance will be paid to the institution/bank in case of death of a member (loan holder)
Group Life Cover
- Employer (policyholder) decides on the level of benefit to be provided.
- Employer will pay the premium to imperium insurance Broker
- In case of a claim, the benefit will be paid to the employer, who in turn pays the employee’s nominated beneficiaries.
A lump sum payment is paid to the nominated beneficiary on the death of a member or family to cover for funeral expenses. Benefit could also be paid on the death of member’s spouse and children, up to four children.