Group Life Assurance Scheme

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prudential

Group Life Assurance Scheme

Price: Negotiable / Piece(s)
Min. Order: 1 Piece(s)
Stock: 0
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prudential

Location:: ,Korea
Main Category:: Business Services
Main Products:: N/A

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Product Description



	Features
	Benefits Description
	Benefit Table
	Eligibility
	Remarks

PRUbenefits Group Life Assurance Scheme is an innovative life insurance product that provides core life coverage as well as optional voluntary coverage.

Optional voluntary coverage include :

Top-up Life Benefit

Accidental Death and Dismemberment Benefit

Total and Permanent Disability Benefit (Any Occuptation)

Living Assurance Benefit
Members have the full discretion on the types of cover they need, and the amount of cover they want.

Features

Different Voluntary Benefits at various levels for members to choose from.
Members have the option to convert the sum of Core and Voluntary Life Benefits to an individual regular savings policy without further evidence of insurability within 90 days on leaving the Scheme and before the member's 65th birthday.
24 hours worldwide coverage.
Three levels of Core Life Benefit to suit your company's needs.
Core Life Benefit payable on death from any cause.
The policy will automatically renew every year without any additional administration procedure.

Benefits Description

Core Life Benefit
This benefit is payable upon the death of a member resulting from any cause.

Voluntary Benefits

Top-up Life Benefit - This benefit is payable in excess of the Core Life Benefit (if applicable) upon the death of a member.
Accidental Death and Dismemberment Benefit - This partial or full benefit is payable when a member sustains bodily injury caused directly by accidental, violent, external and visible means. Payments are made in accordance with the following schedule:

Schedule of Benefits
		Percentage
1. Loss of Life		100%
2. Permanent Total Disablement		100%
3. Permanent Partial Disablement
	Loss of one arm from the shoulder joint	70%
	Loss of one arm from or above the elbow	60%
	Loss of one arm above wrist, below elbow	50%
	Loss of one leg from or above the knee	70%
	Loss of one leg below knee	50%
	Loss of one thumb	25%
	Loss of an index finger	15%
	Loss of each other finger	10%
	Loss of a big toe	10%
	Loss of each other toe	5%
	Loss of all sight in one eye	50%
	Loss of all hearing in one ear	30%
	Loss of all hearing in both ears	60%

Total and Permanent Disability Benefit (Any Occupation) - This advanced (on the Top-up Life Benefit) benefit, is payable if a member is totally and permanently disabled and remains totally disabled continuously for more than 6 months commencing before normal retirement age or age 65, whichever is earlier. The disability must result from an accident or injury or sickness to such an extent as to render the member unable ever to resume work or attend any gainful employment or occupation, or the total and irrecoverable loss of sight of both eyes, or the loss by severance of two or more limbs at or above wrists or ankles, or the total and irrecoverable loss of sight of one eye and loss by severance of one limb at or above wrist or ankle. Upon payment of "Total and Permanent Disability Benefit", the member with any coverage under the Scheme shall cease.
Living Assurance Benefit - This advanced (on the Top-up Life Benefit) benefit is payable if a member is diagnosed as suffering from a Major Illness after a waiting period of 90 days before age 65. Upon payment of "Living Assurance Benefit", the sum assured for "Top-up Life Benefit" and "Total and Permanent Disability Benefit" shall be reduced by the amount of the Benefit so paid.

Major Illnesses include:

1.	Heart Attack	18.	Elephantiasis
2.	Coronary Artery Disease Requiring Surgery	19.	Loss of Independent Existence
3.	Stroke	20.	Major Burns
4.	Cancer	21.	Heart Valve and Structural Surgery
5.	Kidney Failure	22.	Alzheimer's Disease
6.	Paralysis	23.	Benign Brain Tumour
7.	Major Organ Transplantation	24.	Encephalitis
8.	Surgery to the Aorta	25.	Multiple Sclerosis
9.	Cardiomyopathy	26.	Parkinson's Disease
10.	Primary Pulmonary Arterial Hypertension	27.	Blindness
11.	Bacterial Meningitis	28.	Deafness
12.	Coma	29.	Severance of Limbs
13.	Motor Neurone Disease	30.	Aplastic Anaemia
14.	Muscular Dystrophy	31.	Fulminant Viral Hepatitis
15.	Poliomyelitis	32.	Loss of Speech
16.	Chronic Liver Disease	33.	Medullary Cystic Disease
17.	End Stage Lung Disease	34.	Terminal Illness

Benefit Table

Benefits	Sum Assured
	Plan 1	Plan 2	Plan 3
Core Life Benefit	(HK$) 100,000	(HK$) 250,000	(HK$) 500,000
Voluntary Benefits
Top-up Life Benefit	HK$50,000 per unit, max 10 units*
Accidental Death and Dismemberment Benefit	HK$50,000 per unit, max 10 units*
Total and Permanent Disability Benefit (Any Occupation)	HK$50,000 per unit, max 10 units*
Living Assurance Benefit	HK$25,000 per unit, max 10 units*

*Remark :


Eligibility
The Scheme must have at least 5 members. Employees who have completed the probationary period of active and continuous employment with age below 65 are eligible to join. Maximum entry age for Voluntary Benefits is 54 with the renewal up to age 64. Note: All eligible employees MUST join the scheme.

Remarks

Exclusions:

( The full details of exclusions are subject to the policy document. )

Core Life Benefit

No exclusion.

Top-up Life Benefit

No benefit will be payable for death caused directly or indirectly, wholly or partly by suicide or self-inflicted injuries while sane or insane during the first 12 months of the member enrolling in this benefit.

Accidental Death and Dismemberment Benefit

No benefit will be payable for any loss or disability caused directly or indirectly, wholly or partly:

i )	by war, invasion, act of foreign enemy, hostilities (whether war be declared or not), terrorism, civil war, rebellion, participation in illegal acts, revolution, insurrection, military or usurped power, riot or civil commotion;
ii )	by alcohol, narcotics or drugs unless taken as prescribed by a registered medical practitioner;
iii )	by suicide or self-inflicted injuries while sane or insane;
iv )	while the member is engaging in underwater activities requiring breathing apparatus or racing other than on foot; or
v )	while the member is ascending into, descending from or travelling in any aircraft other than as a fare-paying passenger on a scheduled public air service.

Total and Permanent Disability Benefit (Any Occupation)

No benefit will be payable for any loss or disability caused directly or indirectly, wholly or partly:

i )	by war, invasion, act of foreign enemy, hostilities (whether war be declared or not), terrorism, civil war, rebellion, participation in illegal acts, revolution, insurrection, military or usurped power, riot or civil commotion;
ii )	by alcohol, narcotics or drugs unless taken as prescribed by a registered medical practitioner;
iii )	by self-inflicted injuries while sane or insane;
iv )	while the member is engaging in underwater activities requiring breathing apparatus or racing other than on foot;
v )	while the member is ascending into, descending from or travelling in any aircraft other than as a fare-paying passenger on a scheduled public air service; or
vi )	AIDS, AIDS-related complex or inflection by HIV.

Living Assurance Benefit

No benefit will be payable if the Major Illness caused directly or indirectly, wholly or partly:

i )	by war, invasion, act of foreign enemy, hostilities (whether war be declared or not), terrorism, civil war, rebellion, participation in illegal acts, revolution, insurrection, military or usurped power, riot or civil commotion;
ii )	by taking of drugs otherwise than under the direction of a registered medical practitioner;
iii )	by self-inflicted injury or illness while sane or insane;
iv )	while the member is engaging in underwater activities requiring breathing apparatus or racing other than on foot;
v )	while the member is ascending into, descending from or travelling in any aircraft other than as a fare-paying passenger on a scheduled public air service; or
vi )	AIDS, AIDS-related complex or inflection by HIV.

Pre-existing Conditions
No benefit shall be payable for a claim which results directly or indirectly from a condition for which the member had previously received treatment for or of which he/she was aware of at the effective date of this benefit.

prudential

Company Introduction

Academic Achievements Bachelor and Master Degree in Economics Professional Qualifications FCCA AHKSA United States Life Insurance Institute Fellow Member Work Experience Trained with KPMG Peat Marwick UK 15 years financial controllership in international corporations and regional office Specialized in accounting, personal income tax and trust management. Expert consultant in insurance financial planning