Group Life

About Group Life

Fully comprehensive death benefits for employees

PurpleLife is a low-cost insurance solution from Hollard Mozambique that provides financial protection for groups (of five or more) of company employees or affiliate members, in the event of disability, critical illness or death.

Death Benefits

If an employee dies, their dependents or designated beneficiaries will receive a death benefit.

Disability Benefits

If an employee is unable to carry out their work, or to undertake another occupation, due to disability or declining health, PurpleLife pays out a once-off lump sum.

Critical Illness Benefit

If an employee is diagnosed with a medically defined illness – namely a heart attack, coronary artery bypass graft, stroke, cancer, kidney failure, major organ transplant, loss of limbs, major burns, total blindness, coma or multiple sclerosis – they will receive a once-off living benefit to help them deal with the associated medical and living costs.

Funeral Benefits

If an employee or a loved one, dies, a single one-off payment is paid to assist with the costs of the funeral and other associated expenses, in line with a scale of benefits determined by the employer.

Insurable Groups or Affiliations

Any affiliation or company may insure all its members or employees.

Choosing the correct coverage

You decide whether the risk benefits are paid at a predetermined flat benefit for all staff, or as a multiple (between one and five times) of your employee’s annual salary.

The sum insured, under PurpleLife, is typically set at a maximum of USD 1 million for Life or USD 500 000 for Disability. However, Hollard Mozambique will consider higher amounts if the underwriter accepts that individual circumstances warrant it.

Insurance contract period

The contract is guaranteed for a period of one year (and renewable every anniversary) but may be extended to two years on request. Changes to the terms and conditions of the contract may be made, at your discretion, at the renewal date.

Payment of premiums

Premiums are paid monthly or annually.

Advantages for your employees

Peace of mind that, in the unfortunate event of their death or disability, they will not leave their families destitute. By recording the insurance premiums paid by you as tax deductibles, the employee also reduces their overall tax burden.

Advantages for your company

A group life assurance policy is a significant benefit for employees and can help to attract new and retain existing staff.

Advantages for associations

The lives of members and affiliates are financially protected, which enhances the strength, security, prestige and credibility of your organisation.

Tax-free claims

The insured sum, paid by Hollard to the beneficiary on the deceased’s death, is not considered taxable income. When your company is the beneficiary and receives the sum insured in full or partially, paying the balance to the family of the deceased or a third party by way of compensation, attracts a tax liability.

Generali and Hollard Group Risk International Partnership

Generali Employee Benefits is provided to Hollard Mozambique group clients via a partnership agreement between Hollard Group Risk International and Generali Employee Benefit, in terms of which Hollard is the sole distributor of Generali’s products on the African continent.

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