Group Life Assurance

Group Life Assurance (GLA) provides life cover on a defined benefit basis for members of a group. On the death of a member, a predetermined (defined) lump sum will be paid to the beneficiaries.

Group Life capabilities

Old Mutual has Group Life experience that ensures delivery of practical group life cover solutions to meet our clients’ needs.

The Group Life offering consists of a compulsory life cover component which is payable on the death of the member.

Benefits of Group Life

Old Mutual Nigeria Life Assurance Company Limited's Group Life product will provide the following benefits:

  • Paid out as a defined lump sum benefit.
  • Benefits can be expressed as a multiple of salary, formula-driven or as a flat cover (monetary) amount.
  • The lump sum payable creates immediate access to cash for dependant(s) of the deceased.