Group Life Insurance

In today’s competitive business environment, institutions aim to attract the best talent with the optimum blend of rewards & benefits. Life Insurance is often one of the basic benefits provided by an organization to its employees. It is designed to provide an employee & his loved ones with financial protection in case of unexpected death or injury. The employer can also protect himself against the legal liability of the compensations to be provided (in case of injury at work to his employees) under Kuwait Labour Law. Group Life insurance policy with its various ancillary benefits builds this cloud of protection for the employee and employer at a low cost & effective manner.

Warba Insurance offers a comprehensive array of Group Life Insurance options to cover most risks that employers face today.

Our products in this segment are:

Group Life Policy

Policy Purpose
To provide life insurance coverage along with personal accident & workman’s compensation cover in one package.

Brief Write-up
Group Life Insurance financially protects employee’s family and dependents if they were to die whilst in employment and also covers the liability of the employer in accordance with the Kuwait Labour Law. It helps the employer to plan for the unexpected.

Benefits
– LIFE BENEFITS- DEATH DUE TO ANY CAUSE;
– PERSONAL ACCIDENT BENEFITS- ACCIDENTAL DEATH
• PERMANENT TOTAL DISABILITY DUE TO ACCIDENT
• PERMANENT TOTAL DISABILITY DUE TO SICKNESS
• PERMANENT PARTIAL DISABILITY DUE TO ACCIDENT
• PERMANENT PARTIAL DISABILITY DUE TO SICKNESS
• TOTAL TEMPORARY DISABILITY DUE TO ACCIDENT
• TOTAL TEMPORARY DISABILITY DUE TO SICKNESS
• MEDICAL EXPENSES DUE TO ACCIDENT
• REPATRIATION BENEFITS
-WORKMEN’S COMPENSATION BENEFITS

Coverage
1. BENEFITS.
• DEATH DUE TO ANY CAUSE : SUM ASSURED = MULTIPLE OF SALARY-12/24/36/48
2. PERSONAL ACCIDENT BENEFITS.
• ACCIDENTAL DEATH : DOUBLE SUM ASSURED
• PERMANENT TOTAL DISABILITY DUE TO ACCIDENT: DOUBLE SUM ASSURED
• PERMANENT TOTAL DISABILITY DUE TO SICKNESS: SUM ASSURED
• PERMANENT PARTIAL DISABILITY DUE TO ACCIDENT: % OF SUM ASSURED
• PERMANENT PARTIAL DISABILITY DUE TO SICKNESS: % OF SUM ASSURED
• TOTAL TEMPORARY DISABILITY DUE TO ACCIDENT: PAYABLE FOR A MAXIMUM OF 52 WEEKS SUBJECT TO KD.500/- PER WEEK PER PERSON
• TOTAL TEMPORARY DISABILITY DUE TO SICKNESS: PAYABLE FOR A MAXIMUM OF 52 WEEKS SUBJEC TO KD.500/- PER WEEK PERSON
• MEDICAL EXPENSES DUE TO ACCIDENT: ACTUAL EXPENSES SUBJECT TO MAXIMUM OF 10% OF SUM ASSURE OR KD.1000/
• REPATRIATION BENEFITS: ACTUAL EXPENSES SUBJECT TO MAXIMUM KD.500/-
3. WORKMEN’S COMPENSATION BENEFITS. – AS PER KUWAIT LABOUR LAW

Group Credit Life Policy

Policy Purpose
It provides basic life cover to borrowers from a bank or a financial institution in case of unexpected death or injury.

Brief Write-Up
This policy is constructed to financially protect lending institutions from the complication as a result of sudden & unexpected death or injury to individuals who were granted credit. It provides the lender with security in case of loss of revenue & does away with the hassle of collection from an incapacitated borrower or his family. It also helps the borrower, as it does not pass liability after his unexpected death or injury to his family.

Benefits
1. LIFE BENEFITS- DEATH DUE TO ANY CAUSE;
2. PERSONAL ACCIDENT BENEFITS- ACCIDENTAL DEATH
• PERMANENT TOTAL DISABILITY DUE TO ACCIDENT
• PERMANENT TOTAL DISABILITY DUE TO SICKNESS
• PERMANENT PARTIAL DISABILITY DUE TO ACCIDENT
• PERMANENT PARTIAL DISABILITY DUE TO SICKNESS

Coverage
1. LIFE BENEFITS.
• DEATH DUE TO ANY CAUSE:
SUM ASSURED OF THE OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT
2. PERSONAL ACCIDENT BENEFITS.
• ACCIDENTAL DEATH :
SUM ASSURED OF THE OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT
• PERMANENT TOTAL DISABILITY DUE TO ACCIDENT :
SUM ASSURED OF THE OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT
• PERMANENT TOTAL DISABILITY DUE TO SICKNESS :
SUM ASSURED OF THE OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT
• PERMANENT PARTIAL DISABILITY DUE TO ACCIDENT :
% OF SUM ASSURED OF OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT
• PERMANENT PARTIAL DISABILITY DUE TO SICKNESS :
% OF SUM ASSURED OF OUTSTANDING LOAN AMOUNT ON THE DATE OF INCIDENT /ACCIDENT