Are you a conscientious Employer? Have you insured your valuable human assets for a Life Protection cover? Invest in your employees' future and be rewarded with their loyalty and appreciation. Opt for the Group Term Assurance Plan - a flexible solution that insures your employees against unfortunate incidents like death, or disability. The benefits under the policy would be payable to the member / beneficiary on occurrence of the event.

Advantages of the plan:

You as an Employer can:

You're Employees:

* Free cover limit is the life cover limit up to which no medical underwriting may be required.


The basic term cover can be chosen in the following ways:

The minimum cover to be taken is Rs. 100,000 MUR per employee.

Termination of cover

The cover will cease on the earliest of:

Date of withdrawal from Employer's service Date of discontinuance of the policy


Group Size: Minimum 10 Age: from the minimum age of 18 till the maximum age of 69 or normal retirement age of the employee, whichever is earlier.


All new employees become a part of the group, if they meet the eligibility criteria. The cover starts from the date of joining the company. The particulars of the new joiners are to be submitted by the Employer on a monthly basis along with the proportionate premium. In case of an individual leaving service or the group, life cover will cease immediately.


The benefit (life cover) under the policy is payable on the death or in case of permanent disability of the employee to the beneficiary nominated by him.


Everything you care for in good hands.


Pension schemes are one of the most tax-efficient ways to help your employees save.

Company pensions typically fall into two categories:

At Island Life Assurance, we offer a range of products and services to tailor your scheme to your needs, including active member discount and other charging structures, and flexible investment solutions.


A pension fund in which the benefits to be paid to the member are defined in advance of the member's retirement. The benefit is usually expressed as a proportion (eg. two-thirds) of the member's salary on retirement. In these funds it is generally the company or sponsor of the fund (rather than the member) which carries the risk as to the ability of the fund to meet its liabilities.


A pension fund in which the amount of contribution payable (as distinct from the end benefit) is defined (eg. 10% of salary). The benefit payable to a member on retirement constitutes the aggregate of contributions to the fund (both employer and employee) in respect of the member, plus the investment earnings on those contributions. Unlike a defined benefit fund, the investment risk in a defined contribution fund is borne by the fund members. (Also known as Accumulation)


Why set up a pension scheme with Island Life Assurance

These days more than ever, employees are looking to you to provide them with a quality pension scheme. And, if you employee more than five people, you're required by law to offer them one. Our support makes setting up and running a pension scheme easy and pension schemes for global companies Visit our website at

Entry Level


Minimum Group Size: 05 lives

5-year pension guarantee

The pension (full or reduced) is guaranteed to be paid for at least 5 years whether or not the member dies within this period. After 5 years, the pension continues to be paid for as long as the member is alive. Spouse Pension The pension (full or reduced) is payable for as long as the member is alive. On his/her death, 50% of his/her pension is payable to his/her surviving spouse.


A Grace Period of fifteen days for monthly mode and thirty days for all other modes from the due date will be allowed for payments of each subsequent Regular Premium. The Policy will remain in force during the period. If any Regular Premium remains unpaid at the end of its Grace Period, the Policy will be subject to provision.

Total Contribution Rate

The contribution rate includes employer & employee contributions and provides for both life cover and pension benefits.


In case of death of the employee or the employee suffering from total & permanent disability (TPD) while in the service of his employer, an amount equivalent to 26 times his monthly basic salary is payable to him or his beneficiary


The accumulated fund value at 65 represents the accumulated total contributions with interest return and is used to purchase retirement benefits. These include either a full pension or an optional lump sum of 25% of the accumulated fund value and a reduced pension of 75% of the full pension.

The pension (full or reduced) is payable for as long as the member is alive. Pension in payment increases by 7% every year. This pension has also been expressed as a % of his/her expected monthly salary at 65.

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