2. Permissible monthly payback amount to net salary ratio which is at least 30% and maximum payment tenure of six months. 3. Employee cadre consideration which is in line with your net salary per annum.
4.5 Life Insurance/Group Accident
Description
AfriLabs provides Personal Accident and Life Insurance and Accidental Death coverage for eligible employees at no cost to such employees. Coverage becomes effective on the first day of employment and ends on the last day of the month in which employment ends.
Life Insurance Coverage and Benefits
To provide a level of income protection to employees who are unable to work due to an accident sustained while carrying out or performing official duties, AfriLabs provides a Workmen’s Compensation/ Group Accident coverage as follows:
• accidental death = 3.5 times annual earnings
• permanent disablement = 4.5 times annual earnings
• temporary total disablement = full weekly salary (maximum of 104 weeks).
• medical, surgical & hospital = reasonable amount for in-country treatment.
Additional lump sum benefits for temporary total disablement are available under this policy. However, these vary and are dependent on the type and extent of the disability suffered by the employee. It is a condition precedent to the payment of the above medical benefits, that the medical attendant’s detailed information shall be vetted and approved by the insurance company.
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