For companies
Employee life insurance: caring for your team as part of the benefits package
A corporate life insurance programme protects employees and their families against serious events: death, disability or temporary incapacity for work. For the company it is a clear staff retention tool and a way to settle the question of financial assistance in advance, without diverting the budget at a difficult moment. At Insurance Center you can calculate a programme for your entire workforce and compare offers from several licensed insurers.
Who it is for
The programme suits companies of any size, from small teams to large enterprises with branches. It is especially in demand where competition for specialists matters and where the work involves business trips or travel.
Risks you can choose
- Accidental death
- Death from any cause
- Temporary incapacity for work
- Group I or II disability from any cause
What the company gets
- A more attractive benefits package
- A ready-made way to support an employee's family
- Predictable costs instead of one-off payouts
- One programme for the whole workforce
How it differs from compulsory insurance
By law, an employer must insure employees against accidents while performing their work duties. That policy does not cover illness or events outside work. Voluntary life insurance complements the compulsory cover: it can apply around the clock and include death or disability from any cause. The two contracts do not replace each other, but together they give the employee much more complete protection.
What to check
- Territory and hours of cover. At work only or 24/7, in Kazakhstan or worldwide.
- Payout amount for each risk. The full sum insured or a percentage of it, especially for disability and incapacity for work.
- How the list is changed. How to add new employees and remove those who have left.
- Exclusions. Intoxication, illnesses known before cover started, professional sports.
Please note. The sum insured can be the same for everyone or differentiated by position. The second option is often used to make the programme more flexible and to manage the budget.
When a claim may be declined
The insurer may decline a payout if the event is not among the insured risks, occurred before the contract took effect or outside the territory of cover, was caused by intentional acts of the insured person, or falls under exclusions set out in the insurance rules. Inaccurate information provided at application and missing the deadline for reporting the event are also grounds for refusal.
What affects the cost
The premium depends on the sum insured per employee, the number of insured people and the set of risks. Death from any cause and disability from any cause broaden the cover, so a programme with them costs more than protection against accidents only. Insurers also take into account the company's line of business, working conditions and the age profile of the workforce. The larger the group, the more stable the calculation for the insurer. The insurer quotes the exact price after receiving the list of employees, so treat the calculator result as a budget guide.
What to prepare
- Company details and BIN
- A list of employees with IINs and dates of birth
- The desired sum insured per person
- The list of risks and the insurance period
How to apply
Online calculation
Enter the amount per employee, the risks and the number of staff in the Insurance Center calculator.
Comparing offers
Get terms from several insurers and choose the best balance of cover and price.
Contract and payment
Sign the contract, pay the invoice, and the policy will be sent to the company's email.
What to do if an insured event occurs
- Notify the insurer or Insurance Center of the event within the period specified in the contract.
- Collect medical records, a disability certificate or a death certificate.
- Prepare the company's documents: the hiring order and confirmation that the employee was on the list of insured persons.
- Submit a claim on behalf of the employee or the beneficiary.
- Follow the review and provide additional documents if needed.
How to choose a programme
Define the goal: minimal protection in case of an accident or a fully fledged part of the benefits package. Then agree on the budget per employee and compare which set of risks it buys from different insurers. Be sure to check how easy it is to change the list of insured people as staff come and go.
It helps to plan in advance how employees will learn about the programme. A short memo listing the risks, contacts and required documents helps people use their cover and helps the company show the value of its benefits package. After a year, review which risks are actually in demand and adjust the programme at renewal: broaden the cover, change the amounts or add new groups of employees.
This material is for reference only; final terms are set by the insurance rules and the contract.
How Insurance Center helps
We will gather offers from licensed insurers to match your company's headcount and budget, help agree on the risks and support the contract, including claims settlement. Phone consultation: +7 727 225 40-40.
