Argus is proud to be a market leader in insurance and financial services. We offer the plans and resources you need to stay well and live worry free.
Group Life Insurance provides protection against financial consequences due to death. By insuring employees, the company is providing their dependents with financial security. Group Life provides a monetary benefit in the event of an employee’s death while employed by the employer. It is provided to all active full-time employees who work a minimum of 20 hours per week.
Under the Employment Act 2000, employers must pay up to 26 weeks of wages on an employee’s death resulting from an occupational disease or accident. Our Group Life Insurance policy may be used to provide this benefit.
Our Group Life Policy provides a Living Assurance benefit, wherein Argus pays up to 50% of the life insurance benefit (up to a maximum benefit) to an employee, while living, should that employee become terminally ill.
Other highlights include an Accidental Death and Dismemberment (AD&D) rider, which provides an additional level of protection by offering more financial security in the event the employee’s death or dismemberment was due to accidental means. AD&D also provides such benefits as continued education for dependent children and rehabilitation in formal rehabilitation programmes.
In addition to life insurance for employees, Argus offers options for employees to purchase additional amounts of insurance for themselves, as well as coverage for their spouse and dependents. These benefits come under our Additional Voluntary Life, Spousal Life and Dependent Life Insurance policies.