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In the highly competitive environment, Corporates are increasingly under pressure to excel in their respective industry. Employees play the most essential role in achieving organizational goals. Corporates constantly strive in building conducive environment that keep their employees free from all worries.
Recruitment & retention of quality staff is essential to business growth and a fundamental issue for most employers. Apart from offering lucrative packages in terms of salary, car policy, potential and good staff prefer working for employers who offer overall benefits including, Pension, Health Care and Life Assurance offerings.
Askari Life has designed risk-free corporate & group life plans that provide just the right protection to employees in case of unforeseen circumstances.
Basic Life Plan
The basic life benefit is free from all exclusions. The basic life benefit shall be payable in all circumstances. A lump sum amount is paid to the beneficiaries in case of demise of the employee.
Accidental Death Benefit (ADB)
Accidental Death Benefit provides protection against death due to any kind of accident. Askari Life pays the basic as well as the benefit for accidental death. It is also referred as the “double indemnity clause.” Askari Life also offers double the amount if the insured demise result of an accident. This benefit can be added to the overall coverage against a nominal cost.
Permanent Total Disability Benefit (PTD)-Accidental
Permanent total disability is a kind of benefit which protect the insured from any disability caused due to accident or illness and hinder him/her to serve in any kind of occupation they were serving in regard to the education and training.
“Total Permeant Disability” means disablement of the life insured caused by bodily injury or disease which result in:
1. The complete incapability of the life insured for an uninterrupted period of one year and at all times thereafter which, in the opinion of the insurer after consideration of medical evidence, which indicates the prevention of life insured to serve in a gainful occupation
2. The Life insured suffering:
a. Complete loss of both arms or both legs or one arm or one leg, or
b. Total irrecoverable loss of sight of both eyes, or
c. Complete loss of one leg/arm and at the same time irrecoverable loss of one eye
Permanent Partial Disability Benefit (PTD) – Accidental
Permanent Partial disability falls under all circumstances where the insured employee could perform some but not all major duties of the job, or can work part-time. Since the insured can partially perform his/her duties, he may not fall under the permanent total disability hence no benefit shall be paid. To solve this problem, the concept of Permanent Partial Disability has been introduced. Under a disability provision (either in policy or available by rider), an insured receives a percentage of income loss the disability or illness has caused.
Total Temporary Disability Benefit (TTD)- Accidental
Permanent Total Disability provided coverage to employees in case of permanent disability as a result of an accident or illness that prevent the life insured to perform his/her occupation or any other occupation that compliment his education, experience and training.
In this type of disability, this benefit provides an income ranging from 2 weeks to one year to financially secure the life insured during early period of disability. It provides income security during the recovery period or if God forbids the disability last longer than one year the employee would benefit from the permanent disability rider.
Total Permanent Disability- Natural
This benefit is designed to provide the life insured protection from disability caused naturally (for e.g. paralysis or brain Hemorrhage). This rider comprehensively covers the life insured in case of any natural disability that prevent the life insured from performing his current occupation or occupation that suits his education, skills or experience.
Terminal Illness Benefit (Complimentary)
Diseases that are not curable and result in death comes under Terminal Illness. This benefit allows the insured to collect a portion of their life insurance policy while they are alive. The life insured can claim this benefit as soon as he is diagnosed with any of the terminal illness and requires long term care, hospitalization or nursing at home. Since a terminal patient is unlikely to work and earn an income, this rider can help relieve the financial burden and medical cost.
On diagnosis of terminal illness 50% of the employee sum assured shall be paid to him and the remaining 50% will be paid in case of his/her demise.
Coverage Specifications
| Min. Entry Age | 18 Years |
| Max. Entry Age | 60 Years |
| FCL | 15 Million |
| Underwriting | Requirements will be shared after finalization of the proposal |
| Temporary Total Disability Benefit- Accidental | Max. PKR 16,000/Month upto 12 Months |
| Profit Sharing after 4th Policy Anniversary | Admin: 25%, PH: 50%. Insurer: 50% |