Stangen Group Cover
Umuntu Ngumuntu Ngabantu -
Empowering Employers to Address the Needs of Their Employee Group
Umuntu Ngumuntu Ngabantu.
This well-known African proverb celebrates our inter-dependency. Employers and employees rely on each other for the sound operation of their business which benefits both parties financially as well as the communities in which they operate.
Financial Protection for Staff.
In the event of a tragedy or unforeseen event, one of the risks which employees face is the financial protection of their dependents and extended families. Risk products, such as life insurance, critical illness, funeral and disability cover, which cater for unforeseen circumstances can have expensive premiums when the cover is issued and costed in relation to the individual (employee) concerned.
Stangen Group Cover.
An employer is made up of a group of employees and Stangen offers a range of products which can be tailored to suit each business’ unique needs based on their risk profile. Group cover products from Stangen provide employees with peace of mind that their loved ones will be taken care of if they no longer can. Group cover is also often cheaper than individual cover without losing out on any of the benefits. The following types of cover can be taken for Groups in a customised offering:
● Group Life
up to R10 million per person
● Group Lump Sum Disability
up to R10 million per person
● Group Income Disability
up to R200,000 per person per month
● Credit Life (Retrenchment)
up to R30,000 per person per month
● Group Funeral
up to R100,000 per person
In addition to these products, Stangen has developed two innovative products to address real challenges facing the South African community which are:
- a first-to-market innovative cover that insures clients against death or serious injury as a result of a violent crime, including assault and rape. The cover under this policy pays out a predetermined lump sum in the event of death or hospitalisation due to a defined crime incident.
- this product pays out pre-selected lump sums in the case of death or disablement as a result of commuting-related accident as a non-professional driver, passenger or pedestrian. In addition, cover is also made available to alleviate the costs of admission to an Intensive Care Unit if applicable.
Tailored to your needs.
At Stangen we don’t believe in a one size fits all approach, but rather work with our clients to tailor group benefits to the specific needs through a combination of the products above.
Financial Education as an Enabler for Employees.
By offering risk benefits to employees, the employer not only provides financial protection against tragedy for their workers, but in effect also serves the greater community from which it resources its operations. One of the most powerful tools in risk mitigation and financial protection for employees is financial education.