Life Scheme
We care about your future and your family. At Glucode, we provide a Group Life Scheme to ensure you are looked after in unforeseen circumstances.
Cover
As part of Life Scheme, you will be covered for:
- Life Cover
- Capital Disability
- Income Disability
- Critical Illness
- Funeral Cover
Eligibility
All full-time employees will be added to our Group Life Scheme after 3 (three) months of joining Glucode.
Contributions
Glucode pays the monthly premium to Discovery Life directly.
Under the Company Contributions section of your payslip, you will see the Group Life premium amount.
Info
For any payslip queries, please contact our Finance team for assistance.
Summary of cover
| Risk Type | Approved/Unapproved | Benefit | Free Cover Limit |
|---|---|---|---|
| Risk Type | Approved/Unapproved | Benefit | Free Cover Limit |
| Group Life Cover | Unapproved | 2x annual salary | R1 540 000.00 |
| Capital Disability | Unapproved | 2x annual salary | R1 540 000.00 |
| Income Disability | Unapproved | 75% of monthly salary | R29 000.00 |
| Critical Illness | Unapproved | 2x annual salary | R924 000.00 |
| Funeral Cover | Unapproved | R30 000.00 | N/A |
Info
The Group Life benefits are dependent on your annual salary. For more information on the benefits, please contact our Life Broker.
Info
This benefit is provided by Glucode on a non-contractual basis at the Company’s sole discretion. It may be amended, adjusted, or withdrawn at any time, with any changes communicated to employees in accordance with applicable policies and legal requirements. The details of this benefit are outlined in this Handbook, as updated from time to time.