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Life Insurance
Various basic and additional
life insurance coverages are offered to members and their dependents.
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Member's Life Insurance
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Member’s life insurance guarantees that
the sum insured will be paid to the member’s legal heirs upon the
member’s death. It is offered in a choice of fixed amounts or annual
salary multiples.
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Member's Optional Life Insurance
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Member’s optional life insurance is additional
coverage that is offered in a choice of fixed amounts or annual salary
multiples.
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Member's Accidental Death and Dismemberment
Insurance
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In case of accidental death, the life insurance
sum insured doubles. If the insured suffers the accidental loss of a limb,
the maximum benefit is equal to a percentage of the member’s life
insurance coverage.
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Dependents' Life Insurance
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Dependents’ life insurance provides coverage
against the death of the member's spouse and dependent children. Upon
the death of a dependent, the member will receive the sum insured provided
for in the contract.
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Spouse's Optional Life Insurance
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Spouse’s optional life insurance is additional
life insurance that provides coverage against the death of the member’s
spouse. Upon the death of the spouse, the member will receive the sum
insured provided for in the contract.
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