Small Business Employee Benefit Plan

With Exodec Small Business Employee benefit Funeral Plan an employer can cover their single workers as well as workers with families till the day they retire at 65 years. There is also a conversion option available for employees that wants to continue with the benefit after retirement or even when they change employment. Contact us today and we'll help you switch to the Exodec Small Business Employee Funeral Plan.

Insurance for the employer that cares about their employee’s and their family when they pass away.

Exodec Small Business Employee  benefit Funeral Plan has been developed for smaller businesses with less than 200 employees that struggle to find underwriting directly. There is a special tax benefit for employers that takes this fringe benefit out for their employees. This is a benefit paid for by the employer for their employees till they retire at age 65.

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Employee  benefit Product Rules:

  • Maximum entry age 64 years
  • Cover ceases at 65 years upon retirement, resignation or retrenchment
  • Continuation option available for employees going on retirement to continue with the cover for their whole life is available
  • No waiting period on natural death
  • No waiting period on accidental death
  • Suicide excluded for 12 months
  • Benefits for children up till 22years
  • Benefits for Full time students up till 26 years (annual proof required)
  • Children Benefit scale: 14-22years = 100% of main member benefit
  • 6-13yrs = 50% of main member benefit stillborn – 5 years = 25% of main member benefit
  • Stillborn cover included on the family plan
  • Cover for maximum 5 children included
  • Citizens from neighbouring countries (SADC) working in South Africa can take out a policy but they must be legally in the country and have a passport and work permit at application stage. Their nominated family staying with them in South Africa can also be covered

Product is underwritten by Guardrisk Life Limited, FSP 76 and a licenced life insurer in terms of the Insurance Act.

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