Salary Continuation Plan

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EFU Life’s Salary Continuation Plan is a special arrangement for an income continuation in the event of misfortune.

The continuation of salary allows the family to maintain the quality of life they have been accustomed to. Furthermore, the plan gives employees the peace of mind in knowing that their families will be financially secured should any misfortune occur.

The Salary Continuation Plan offers the following:

  • Salary linked insurance cover that can be tailored according to your organization’s need.
  • Salary escalations that may be added to the plan to counter the effects of inflation.
  • Flexibility in premium payments that may be made annually or monthly.
  • Premiums are treated as non-taxable income.
  • High value of employee loyalty and retention may be achieved.
  • Exclusion free insurance cover in case of natural death.
  • “Profit sharing” with groups having minimum of 200 members.
  • Riders

    The EFU Group Life Salary Continuation Plan gives employers the facility to tailor the package to their specific needs by choosing from a comprehensive range of additional benefits available. All covers are available on a 24-hours worldwide basis and cover both on-duty and off-duty risks.

    Even though the additional benefits are subject to some exclusions, the basic life benefit is exclusion free and shall be payable in any case. Acts of terrorism such as fire-arm, murder, assault and assassination are covered as well.

    • Accidental Death Benefit

      The benefit provides an additional indemnity in the event of accidental death.

    • Accidental Disability Benefit: (own and similar occupation)

      The benefit provides for the full payment of the basic sum assured if the permanent and total disability by accident prevents the employee from following his own occupation or any other similar occupation for which he is reasonably suited by reason of education, training or experience. This benefit mainly aims to provide a financial cushion to individuals of your group.

    • Accidental Disability Benefit: (any occupation)

      The benefit provides for the full payment of the basic sum assured if the permanent and total disability by accident prevents the member from following his occupation or any other occupation. This benefit mainly aims to provide a financial cushion to individuals of your group.

    • Natural Disability Benefit

      This benefit provides for the payment of the full sum assured if permanent disability is caused by natural causes.

  • Data Requirement

    The basic data requirement from the employer is the list of employees with details regarding names, dates of birth, employee code or any other unique ID and CNIC numbers.

    In case of flat coverage no further details are required.

    In case of graded coverage linked with salaries, designation, length of service or any other variable, then, details of the same shall have to be provided for each employee. The information is required to calculate sums assured and will be required at each renewal date.

    Timely adjustments of fluctuations (additions or deletions) can be made if the turnover of employees is communicated along with names, dates of birth, CNIC numbers and dates of leaving or joining.

  • Service Standards

    At EFU Life we strive to provide you excellent services and serve you beyond your expectations. Having a friendly customer service and a dedicated sales force, we ensure you the best of our attention at all times.

    We have set up stringent service standards so that we may satisfy our customers consistently

    • Claim Settlement within 7 days of submitting claim documents
    • Service response to business queries within 3 working days
    • ISO 9001-2008 certified operational procedures to ensure optimal quality services
    • Well-trained staff with strong insurance background
    • Preparation of quotations within 3 days of quotation request from customer

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