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  • Group Insurance

    Corporate Solutions

    Introduction

    Group life insurance helps to offer multiple benefits to a standard group of individuals in one go. Group Insurance plan is hassle free and customized mechanism to cover a group of people under a single master life insurance policy. Group insurance ensures financial security to the family in the event of unfortunate group members sickness, accident, death or other hospital cares such as maternity related facilities.

    The Group Insurance is a comprehensive coverage that can be offered to employees and the plan can be customized as per the need of the group. The employer can offer their group members either uniform cover or varied cover. Benefits are not only for insured, but also for their dependents such as spouse, children, and parents as well. Group insurance is appropriate for all kinds of small and large organizations having at least 10 employees such as associations, banks, financial institutions etc. to provide a systematic financial security for the employees that work as a motivational tool which leaders to higher employee retention and productivity.

    Why Guardian?

    Guardian Life is backed up by very renowned and very trusted business houses in Bangladesh which are Apex, BRAC & Square Group.

    • Large group insurance portfolio in the country.
    • Preferential admission facilities in our designated Hospitals by showing Health Card.
    • Easy Claim Submission: We will be sending a concern person to the particular organization to collect all claim related document.
    • Claim Tracking System: You will receive SMS confirmation on claim intimation and settlement stages. From our designated web portal clients can see their current claim’s status easily and also information regarding his/her last three settled claim.
    • Cashless treatment facilities. It is under hospitalization coverage in our registered hospitals.
    • Highest premium earner among 4th generation life insurance companies in the country.

    Benefits

    • Death Benefits (Natural Death (GT), Accidental Death (ADB), Permanent and Total Disability (PTD), Permanent and Partial Disability (PPD).
    • Critical Illness Benefit – covering 18 major diseases. (Please refer below).
    • IPD Benefits (Hospitalization Benefits).
    • OPD Benefits (Out Patient Department Benefits).
    • Maternity Benefits.
    • OPD Dental Benefits
    • OPD Optical Benefits

    Group Term Life

    The more financial security employees have, the more motivated they remain. Through group term insurance an organization can mitigate the level of uncertainty of their employees and the reason why employees become more loyal to the organization when they get financial supports in time of their needs from the organization they work for. Conversely employer/organizations feel better when they can stand beside their employees through group term insurance providing a norm of good governance in the organization.

    If an insured member dies (except suicidal death, in first year of coverage of a member and HIV/AIDS-related diseases), Guardian Life Insurance upon receipt of written proof of such death due to sickness or accident, will pay the organization the sum insured in respect of the said insured member within 7 days.

    Critical Illness Benefits

    Critical Illness is a special supplementary scheme designed for employees and for their family members with a view to provide financial support and protection in the event of a member is diagnosed to have one of the diseases mentioned below, but not until at least three months have been elapsed since the commencement. The coverage amount is provided upon being diagnosed with the following 18 critical diseases. Covering 18 major diseases - that are mentioned as follows:

    1. Cancer
    2. Heart Attack (Myocardial Infarction)
    3. Stroke
    4. Coronary Artery (Bypass) Surgery
    5. Kidney Failure (End Stage Renal Disease)
    6. Major Organ Transplantation
    7. Paralysis
    8. Multiple Sclerosis
    9. Loss of Limbs.
    10. Blindness/ Loss of Sight
    11. Heart Valve Replacement
    12. Surgery of Aorta
    13. Aplastic Anemia
    14. Benign Brain Tumor
    15. Chronic Lung Disease/End Stage Lung Disease
    16. Deafness/Loss of Hearing
    17. Major Head Trauma
    18. Loss of Speech

      Group Medical Insurance Plan

      Nowadays to lead a healthy life is getting very challenging considering the imbalances of family & other relevant personal expenses. Medical insurance plans are designed to cover medical expenses in case of hospitalization either as in-patient or as an out- patient as well as critical illness. Very flexible and an affordable group medical insurance allows all the regular employees with an option to include family members (spouse & dependent children) under the proposed Medical Insurance Scheme.

      The hospitalization Insurance Plan is designed to provide a comprehensive coverage of hospitalization treatment expenses of an insured due to illness or injury sustained during the period of coverage. Hospitalization benefits that are covered under this Plan have been mentioned below:

      1. Daily Hospital Room Rent (Actual or Max.)

      2. ICU/CCU Limit per confinement

      3. Total Hospital Room Rent (Actual or Max.) including ICU/CCU

      4. All other In-Patient treatment expenses inclusive of surgical charges, consultation fees, medicines, medical appliances and relevant medical investigations related to the ailment and other ancillary services (excluding Room & ICU/CCU charges) maximum per disability.

      Applicable for Female employee/spouse up to the age of 45 years. The maternity/obstetrical benefit is applicable for the expenses that incurred for room, board and general nursing care, special hospital services and ordinary nursing care of the baby/babies while the mother is confined to the hospital and for charges made by the physician, or registered midwife. Pregnancy shall include childbirth, miscarriage or legal abortion, including any and all complications arising there from in connection with pregnancy. Maternity benefit coverages that are covered under this Plan have been mentioned below:

      • Normal delivery
      • Caesarean/Ectopic/Extra-uterine pregnancy
      • Legal abortion or miscarriage

      OPD that is Out Patient Treatment plan enables employees to claim for expenses incurred, without being hospitalized. These policies also cover the cost of medicines, with diagnostics or minor procedures. OPD Benefits that are covered under this Plan have been mentioned below:

      1. Doctors Consultation fees

      2. Medical Investigations fees

      3. Medicine Cost

      1. Doctors Consultation fees
      2. Amalgam, Resin Plastic & Temporary/Permanent Fillings
      3. Routine Extraction
      4. Medication
      5. X-rays
      6. Root Canal Treatment
      7. Scaling & polishing (once in a year for each member)

      1. Consultation
      2. Vision tests for errors of refraction
      3. Medication
      4. 4. Lenses & Spectacles

      Group Personal Accident Benefits

      Supplementary Benefit (Disability)

      Group personal accident insurance plans cover multiple types of disabilities. The disabilities caused by accidents are classified under the following three sections for determining compensation:

      Accidental death benefit shall pay to the employer (organization) the sum insured in respect of the said insured member in addition to death benefit if an insured member dies directly from an accident caused through external and violent, within 7 days from the date of occurrence.

      Permanent and Total Disability coverage shall pay to the organization the sum insured in respect of said insured employee in case of permanent and total disability caused directly by an accident from bodily injury, which prevents the insured member from engaging in any business, occupation or work whatsoever for remuneration or profit and which disability has continued uninterruptedly for a period of at least six months and has been certified to be incurable by a physician approved by the company.

      In the interpretation of this definition the Company will, however, recognize as Total and Permanent Disability the entire and irrevocable loss of:

      1. both eyes
      2. both hands above the wrist,
      3. both feet above the ankle,
      4. one hand above the wrist and one foot above the ankle,
      5. one eye and one hand above the wrist,
      6. one eye and one foot above the ankle.
      7. If an insured Member becoming totally and permanently disabled die within 365 days from the date of such disablement the Company shall pay the sum insured in respect of the said insured employee.

      Permanent and Partial Disability coverage will be paid to the employer as per the benefit specified in the following schedule where applicable in respect of the said insured employee in case of a permanent partial disablement caused directly by an accident. However, one sum namely the larger sum will be paid for multiple injuries resulting from one accident:

      18
      Sl No.Description of injury% of loss earing capacity
      1Loss of both hands or amputation from higher parts100
      2Loss of 1 (one) hand and one leg100
      3Loss of sight of both eyes to such an extent as to render the claimant unable to perform any work for which eye-sight is essential100
      4Amputation of both legs or thighs, or amputation of one leg or thigh and loss of any leg100
      5Severe facial disfigurement100
      6Absolute deafness100
      7Amputation up to shoulder joint80
      8Amputation below shoulder with stump less than 20 centimeters from tip of acromion.70
      9Amputation from 20 centimeters from tip of acromion to less than 11 centimeters below tip of olecranon60
      10Loss of a hand or of the thumb and four fingers of one hand or amputation from 20 centimeters below tip of olecranon60
      11Loss of thumb30
      12Loss of thumb and its metacarpal bone30
      13Loss of 4 (four) fingers of 1 (one) hand50
      14Loss of 3 (three) fingers of 1 (one) hand30
      15Loss of 2 (two) fingers of 1 (one) hand20
      16Loss of terminal phalanx of thumb10
      17Amputation of both feet90
      18Amputation through both feet proximal to the metatarsophalangeal joint80
      19Loss of all toes of both feet through the metatarsophalangeal joint40
      20Loss of all toes of both feet from proximal to the proximal inter- phalangeal joint30
      21Loss of all toes of both feet from distal to the proximal inter- phalangeal joint20
      22Amputation from lower part of the hip90
      23Amputation from lower part of the hip with stump exceeding 12.5 centimeters measured from tip of great trochanter, but not beyond middle thigh80
      24 Amputation from lower part of the hip with stump not exceeding 12.5 centimeters measured from tip of great trochanter70
      25Amputation from middle thigh to 9 centimeters below knee60
      26Amputation below knee with stump exceeding 9 centimeters but not exceeding 12.5 centimeters50
      27Amputation below knee with stump exceeding 12.5 centimeters40
      28Amputation of 1 (one) foot resulting in end-bearing30
      29Amputation of one foot from proximal to the metatarso-phalangeal joint30
      30Loss of all toes of 1 (one) foot through the metatarso-phalangeal joint20

      Permanent disabilities that are not mentioned above shall be compensated in accordance with their severity as compared to those listed. Permanent, partial or total loss of the use of a limb shall be deemed to be same as permanent, partial or total loss of the said limb. No indemnity is payable for any pre-existing degree of disablement and if further injury occurs, only the difference between the condition prior to and after current injury shall be considered.

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