Group insurance economic program
GSEP will provide reliable insurance protection for employees of enterprises, organizations, institutions and their family members, will protect the families of employees in case of loss of breadwinner or loss of working capacity, will provide an opportunity to form additional savings.
! The main difference of GSEP is that under this program, employees of enterprises, institutions, and organizations have protection against accidents.
TERMS OF CONCLUSION OF GROUP INSURANCE AGREEMENT
10 people
Legal entity (enterprise, organization, partnership)
Can be both the policyholder and or insured person, or another person specified in the application for concluding an insurance contract
200 dollars USA (3,000 UAH) for one Insured Person
WARNING! The main difference between group insurance programs is that the Insurer uses the average age of 40 years and male gender for all Insured persons to calculate insurance premiums when concluding insurance contracts or changing their terms, regardless of the actual age and gender. This enables the Legal Entity to change the Insured Person(s) to another Insured Person(s), for example in case of dismissal of an employee(s).
GSEP guarantees:
Payment of the guaranteed sum insured together with accumulated bonus reserves after the contract expires
In the event of the death of the Insured during the period of validity of the insurance contract, the Beneficiary is paid a part of the sum insured under the main insurance, which is proportional to the period of validity of the insurance contract, together with accumulated bonus reserves
plus $2,000 USA – if the annual premium is less than $500. USA
or $3,000 USA – if the annual premium is $500. USA and more
or 15,000 hryvnias - for contracts whose monetary obligations are expressed in UAH
In case of death of the Insured person as a result of an accident, in addition to life protection payments, the full insurance amount is paid at the accident insurance rate.
When the Insured Person is diagnosed with long-term disability as a result of an accident:
• from 50% – the insured person is paid the insurance amount after the expiration of the insurance contract. At the same time, the policyholder is exempted from paying regular premiums;
• full (100%) – the insured person is additionally paid the insurance amount according to the accident insurance tariff.
Term of insurance | 20 years |
Annual insurance payment | 3 000 UAH |
Guaranteed sum insured | 53 091 UAH |
Sum insured for additional death risk insurance | 15 000 UAH |
Insurance payments
The year of the insured event | Payment in case of death (together with bonuses), UAH | Payment in case of death due to an accident (together with bonuses), UAH | Payment at the end of the term of the contract (together with bonuses), UAH |
| 2 | 20 309,10 | 73 400,10 | х |
| 6 | 32 274,27 | 85 365,27 | х |
| 11 | 52 537,88 | 105 628,88 | х |
| 16 | 83 125,13 | 136 216,13 | х |
| 20 | х | х | 108 545,58 |