Group Life Lite Plan
Manufacturer of the product is: MAPFRE Middlesea
MAPFRE Middlesea p.l.c. (C-5553) is authorised by the Malta Financial Services Authority (MFSA) to carry on both Long Term and General Business under the Insurance Business Act. MAPFRE Middlesea p.l.c. is regulated by the MFSA.
Our Group Life Lite Plan is inexpensive and easy for employers to understand and administer. Protecting your employees with life cover helps you improve employee retention, recruitment and morale. A good life insurance policy can mean a lot to an employee, especially if they have a family or children. Life insurance is one of the key benefits that employees look for when they job search, and so, offering them life insurance along with the other usual work benefits, can help set you apart as an employer of choice for desirable candidates.
- The completion of a Group Life Insurance Proposal Form stating all facts truthfully for which you will sign. It is very important that you read the completed proposal form before signing it especially if someone is completing it for you. We advise you to ask for a copy of the signed proposal form for your records as well as the full policy document;
- A duly completed and signed Politically Exposed Persons
- List of Members to be insured;
- To provide completed claim forms/notify the claims department within a maximum period of 30 days upon death or sickness or injury of an insured member, and supply documentation as requested by the claims department to settle the claim accordingly.
Group Life cover is operative 24/7 worldwide. The MAPFRE Middlesea p.l.c. policy is a Maltese contract and is governed by Maltese Law.
Premium Payment Frequency
Basis of Life Cover
Death of a Member Insured
Duration of the Plan
12 months renewable policy
Age limits of Person Covered
The person covered must between the ages of 18 and 65 when the Plan starts
Number of Members
Minimum 5 members and Maximum 100 members
The Policy Owner is a corporate entity or organization, responsible for the group
The Policy Owner
Lump sump payment of the sum assured selected at the start of the policy period in the event of death of the Member insured. Cover will expire once a member reaches the age of 65 or at the end of the policy period whichever is the latter.
Optional Additional Benefits (against payment of an additional premium)
Accidental Death Benefits and Permanent Total Disability
If death occurs as a result of an accident or you are unable to work due to an accident or illness, then the policy will pay a lump sum equal to the sum assured selected at the start of the policy period. Cover will expire once a member reaches the age of 65 or at the end of the policy period whichever is the latter.
This Policy does not cover:
- Political Risks Exclusion;
- Nuclear, Chemical, Biological, Terrorism Exclusion;
- Political Risks Exclusion;
- Sanction Limitation and Exclusion Clause;
- Nuclear and/or Radioactive Risk Exclusion;
- Participation in any kind of speed contest;
- Aviation other than as a passenger in an aircraft licensed for the carriage of passengers;
- Joining the armed forces of Malta.