GLICO Keyman Protection Plan

Many organizations make remarkable progress because of the availability of the services of their technical experts as well as their directors with in-depth working experience and unique skills. The absence of their services to the organization, due to premature death or disability, usually results in financial loss to such organizations. 

An employer having such key persons in his employment can take an insurance policy on their lives to reduce the loss impact when the unfortunate circumstance occurs. The amount of insurance cover depends on the amount of loss the company is likely to sustain by the death of the key person plus the cost the company may have to incur to find a suitable substitute and the expenses to be incurred for training the new incumbent. 

Key Features

Benefits:

GLICO Loan Protection Plan

At GLICO LIFE, we understand that first loss payees give loans to the public in order to stimulate economic activities in the form of loans, overdrafts, credit facilities etc. and relieve beneficiaries of their financial burdens.

These loans could however expose the first loss payee to financial losses in the event of a loan repayment default. 

Benefits

GLICO Mortgage Protection Plan

The GLICO Mortgage Protection Plan has been designed to cover all Mortgagors. 

The Plan has been designed to make money readily available to the first loss payee if any of the above events occur. This certainly shall give customers peace of mind in all business deals.

There is the need to put in place an insurance plan to cover risk exposures that could derail mortgage schemes. Such risk exposures and their consequences include the following:

Immediate cover

Cover commences immediately a prospect signs for the GLICO Mortgage Protection Plan.  

GLICO Welfare Policies

This package provides insurance benefits for groups such as Old School Associations, Clubs, and Churches. It requires members contribute regularly to the scheme, preferably on a monthly basis. 

It provides cover for mainly death and in some instances accidents, total permanent disability or critical illness. Cover may be extended to a member’s spouse, children and parents. 

GLICO Deposit Administration Scheme

The Scheme is a defined contribution arrangement where the cost is pre-determined but the future benefit at retirement or earlier withdrawal is unknown. Thus, the benefit at retirement/withdrawal is therefore based on an accumulation of contributions less any risks premium and administration fees plus full investment returns.

Travel Insurance

Travel Insurance

Counting down on your next trip? Protect yourself with our International Travel Insurance which provides adequate cover for unexpected emergency travel costs. Claim back on:

This satisfies all the Schengen and Non-Schengen states’ visa requirements and is underwritten in association with Mapfre Asistencia

GLICO GROUP COMPREHENSIVE PLAN

The GLICO GROUP COMPREHENSIVE PLAN is an employee benefits insurance package designed to give around-the-clock ample protection during the employee’s term of service with your organization.

The maximum benefit payable may be based on multiples of employees’ annual salary. The policy can be extended to cover spouses, parents and children of employees and also provide other retirement and health insurance benefits. The following are the benefits under the Insurance Plan:

Additional benefits include:  

Premium

Premium is determined for the group on receipt of the necessary information and is paid annually by the employer on behalf of employees

Waiting period

There is no waiting period under this policy except in the case of Total Permanent Disability.