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Frequently Asked Questions about Voluntary Life Insurance

 Employer Questions about Life Insurance


1. What kind of life insurance is on offer?


We search the market place to deliver the best Voluntary Insurance solution for a company’s employees.


Alternatively we can structure a ‘compulsory’ insurance scheme that forms part of an employee’s remuneration package.


2. Are other forms of insurance available?


We can also offer employer funded Life, Trauma, Income Protection and Mortgage Loan Repayment products to employees.


3. How do employees sign up?


Under a voluntary scheme, employees will need to sign a one page document which allows them to take advantage of the insurance offer.


Under a compulsory scheme, employees are signed on automatically.


4. What is the employer’s role in the advice process?


Recommendations to your organisation come from Authorised Financial Advisers and/or Registered Financial Advisers. The advice will be the responsibility of the consulting adviser to the organisation. The employer is not responsible for the provision of advice, nor for the advice given.


5 . How much time will this take me to put in place?


After an initial meeting all we need is a commitment to proceed. After this the process is administered by the YES team and will be initiated in a matter of weeks.


Employee Questions about Life Insurance


1. How much life insurance is available through the Voluntary Life Insurance offer?


The voluntary life insurance offers vary from organisation to organisation. They depend on the specific deal advisers are able to negotiate with insurance underwriters on your organisation’s behalf.
Voluntary life insurance offers are group offers and not tailor-made for an individual’s circumstances or family situation.


2. Once an offer is made, how long do I have to make a decision?

This offer will have a strict 30 or 45 day acceptance period. No acceptance without medical questions will be accepted after this period.
New employees starting in companies with a voluntary life insurance scheme in place will be able to accept the offer based on their employment start date.


3. Who is administering this voluntary employee scheme?


This voluntary employee scheme is administered by SHARE advisers.


4. What happens in the event of a claim?


In the case of a trauma claim, please contact us or, if you prefer, the insurance company specified by your scheme immediately. We will be able to assist you with the claims process.


In the case of a life claim the appropriate family member may contact us directly, or the insurance company specified by your scheme.


5. What if I need more insurance?


Please feel free to discuss your additional needs with one of our SHARE advisers.


6. How do I top up my life insurance cover?


You can top up your life cover at any time should your personal circumstances change. The SHARE adviser will explain what circumstances may require you to consider a top up. Contact your SHARE adviser, or us for a referral to an adviser.

Do you have another question? Email: info@youremployeeservices.com