Employee Care-Life and AD&D

What are Employer-sponsored Benefit Plans?
Assets are a vital part of every modern business operation; increasingly employers have come to accept that Employees are the most important form of asset and therefore must be protected. So an important factor of doing business is that both the Employees and machinery need to be insured against the risks of loss.

That’s where the NCBIC Employer-sponsored Benefit Plans come in. Our plans are designed to provide peace of mind to Employers whose objective is to protect their Employees against the risks of:

Death
Disability
Retirement, and
Provide Living Benefit payments for total & permanent disability, loss of sight, hearing, speech and phalanges, Terminal Illness, etc.

Whether your Benefits Programme is being implemented as a result of your objectives or jointly with your Employees, NCBIC is here to assist you with a seamless transition into providing these benefits for your most valuable asset

Features & Benefits of NCBIC’s Employee Care-Life and Accidental Death or Dismemberment

24-Hour Coverage: Life insurance coverage for all employees both on and off the premises of the workplace.

Master Contract: This is the contract between Students’ Loan Bureau and NCB Insurance Company (NCBIC) and the Employees are the individuals insured under the contract. Therefore, certificates of insurance are issued to each Employee and not a contract.

Evidence of Insurability: No individual medical required for each Employee except for those who require coverage in excess of the No Evidence Limit (NEL) of $12,000,000.00 and employees applying for coverage after the Waiting Period.

Conversion Option – portability of coverage: Provides a convenient option for covered eligible Employees, who terminate their employment, to convert their Employee Care-Life insurance coverage to an individual life insurance plan. Current Maximum $5,000,000.

Hospital Accident Benefit: $1,000.00 per day up to a Lifetime Maximum of 50 days and $50,000.00. No ‘Coordination of Benefits’ information required for the payment of this benefit.

Terminal Illness Benefit: payable to an enrolled Employee who is medically diagnosed as terminally ill with a life expectancy of six (6) months or less. 50% of the coverage in force at the date of diagnosis is payable up to a maximum of $2,000,000 and upon death of the Employee the balance is payable to his/her named beneficiary.