Employee Benefits

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Description

Employee benefits are defined as a form of compensation paid by employers to employees over and above regular salary or wages. Employee benefits come in many forms and are an important part of the overall compensation package offered to employees. These can include Private Medical Insurance, Group Life and Disability Cover, Income Protection Cover and other. Non-Insurance benefits such as Gym membership today can also fall under such benefits.

What's Covered

Group Personal Accident

The policy provides compensation to the insured through the payment of pre-specified benefits in the event of accidental death as well as permanent or temporary disablement. The policy may be extended to include a limit of cover for medical expenses incurred in connection with the accident. The insured may also select the extent of protection required on a geographical basis and operative time basis.

Group Health

Indemnity to the insured is provided in respect of medical expenses incurred in using medical services. Various packages are available to meet the specific requirements of the insured, although arrangements may also be made to design bespoke schemes.

Group Life Assurance

This group policy provides compensation in the form of a lump sum in the event of death of a group member.

Group Travel

Amongst other features the policy provides cover against medical and other expenses, cancellation charges, baggage and money and Personal Accident benefits while travelling on business. The protection is arranged on an annual open cover basis that generally operates subject to declarations in arrears.

Income Protection

This policy is designed to provide a regular income to the insured if he becomes disabled and is unable to continue to perform his employment duties.

Retirement Planning

Flexible group insurance savings plans are available allowing for retirement savings. In most cases such schemes allow control over nature, frequency, and quantum of investments.

Key Contacts

Mark Scicluna

Associate Director

ACII

David Bell

Assistant Divisional Director

CII ICFA

Frequently Asked Questions

Are pre-existing conditions covered under a Group Health insurance?

Depending on the size of the group, insurers will normally cover pre-existing conditions of the insured members of the group.

What is the compensation payable in respect of Temporary Total Disablement under the Group Personal Accident Policy?

As the name implies, temporary total disablement is a disablement which is total but for a temporary period only. Under this disability the insured cannot wholly and continuously perform each and every duty pertaining to his job/occupation. The temporary disablement benefit will normally be for a few days, weeks, months or even up to a year. Here, the compensation paid is normally up to 75% of the weekly wage.

What is normally excluded under these policies?

Typical exclusions are:

  • Intentional self-injury, suicide, attempted suicide
  • While under the influence of i alcohol or drugs
  • While engaging in aviation (other than fare-paying passengers), hazardous sports activities like scuba diving, mountaineering etc.

Renew Insurance

To effect renewal you may:

Pay over the internet using BOV or HSBC Internet Banking and quote the payment reference appearing on your renewal notice

Call on +356 234 33 234 and provide us with your Credit Card or Debit Card details

Send a cheque payable to Mediterranean Insurance Brokers (Malta) Ltd. by post

Visit our offices and talk to one of our advisors