A Group Life Plan is an insurance policy that provides financial protection to employees, members, or their families in the unfortunate event of death. It ensures that their loved ones are taken care of during difficult times.
Group Life Plan
HSBC Life Assurance (Malta) Ltd Group Life Plan
Provide more than financial protection. Security and support for your employees and their families.
Contact us* *send email directly to HSBC Life Assurance (Malta) Ltd.
Get peace of mind for your employees. We understand the importance of prioritising employee wellbeing. A caring organisation values the health and security of its workforce, recognising their contributions and ensuring their peace of mind.
What is a Group Life Plan?
Why Choose HSBC Life?
- Cost Effective Coverage:
We offer cost-effective solutions tailored to your company’s needs
- Comprehensive Protection:
Our plan provides coverage for various life situations, ensuring your employees or members are well-protected.
- Dedicated Support:
Our team is here to assist you every step of the way, from enrolment to claims processing.
- Easy Enrolment:
Signing up for a Group Life Plan is simple and seamless
- Excellent Claims Payout Ratio:
We have an outstanding track record of promptly fulfilling claims, providing reassurance during challenging times.
Optional Benefits: Enhance Your Coverage
In addition to the standard death benefit, HSBC Life offers optional benefits to provide even more comprehensive protection for your employees. These optional benefits come at an extra premium and include:
- Accidental Death Cover: Provides additional financial support in the unfortunate event of death due to accident.
- Permanent & Total Disability: Ensures financial security if an employee or member becomes permanently and totally disabled, unable to work.
- Permanent Partial Disability: Offers financial assistance in the event of a permanent partial disability, helping employees or members cope with the associated challenges.
- Critical Illness Benefit: Provides financial support upon diagnosis of specified critical illnesses, helping employees or members focus on recovery without worrying about financial burdens.
- Repatriation Benefit: Covers costs associated with repatriating the deceased employee’s or member’s mortal remains to Malta, offering peace of mind to their loved ones.
These optional benefits can be tailored to the specific needs and budget of your company and employees, providing added security and support during difficult times.
Benefits to You
- Flexible coverage options and for you to choose between fixed amounts or multiples of the annual salary of employees or members as the sums insured, allowing for customisation based on the company’s budget and preferences.
- A Group Life Plan provides financial support to your employees or members and their loved ones if the unexpected happens.
- The Plan can help enhance the attractiveness of the company’s or organisation’s benefits package, aiding in the recruitment and retention of talented employees or members.
- You can offer significant employee benefits at an attractive rate without undergoing underwriting for a specified level of cover (Free Cover Limit).
- Providing comprehensive life insurance coverage demonstrates your commitment to the wellbeing of your workforce or members, leading to increased satisfaction and loyalty.
- Administration involved in this type of plan is minimal and in most cases the claims procedure is relatively straightforward.
Benefits to Your employees or members
- The Group Life Plan provides your employees or members with peace of mind, together with financial security for their families.
- The Plan offers life, disability and critical illness insurance cover should such events occur during the period of employment.
- In most cases, there will not be any need for employees or members to complete an application form or medical questionnaire.
- With your authorisation, an employee or member can utilise the policy as security against a loan, in which case any claim benefit will pay off the outstanding loan amount.
- In case of a claim the benefits will normally be paid immediately and are not taxable under current legislation, but this may be subject to change in the future.
