About Madison Umbrella GLA Product
This is a death in service cover taken up by employers on behalf of their employees to cushion their bereaved families for the income they will no longer enjoy.
The purpose of the product is to provide cover to SMEs operating in the informal sector in a manner that caters even for those SMEs that do not have the number of employees that qualify them to buy GLA on their own.
- SME’s with a minimum of 3 employees.
- Principal Members – between 18yrs and 65yrs old at entry
- The product targets the mass market (informal and formal sector)
- Age next birthday of the life assured at entry should be 18 to 65 years. The product is annually renewable.
- The term of the Policy is Cover is 1 (one) year. Sums assured range from K5,000.00 to 100,000.00.
- No medicals are required.
- 7.5% Discount through contracted funeral parlors.
- Claims take 5 working days after claim documentation is provided