Our Group Insurance Benefits help you, your employees, and their beneficiaries by reducing the financial impact of unexpected life-changing events that could leave them without an income because of critical illness, disability, or death.
- Help your employees be financially prepared for events that could change their lives.
- Protect employees’ families from financial burden when they are no longer able to earn an income.
- Employees pay for what they need with flexible Group Insurance Benefits.
What we do
6 800 employers in South Africa choose Momentum Corporate to cover their 1.6 million employees. Here’s why:
Why choose Momentum Group Insurance?
We do more than simply pay claims. What makes our benefits unique is the support we provide to your employees and their families, not only when they face difficulty, but in all stages of their lives. We developed a range of services to help employees throughout their life journey.
Wellness Care Centre
Here to help every step of the way
Employees need more support when they become ill or disabled. Our Wellness Care Centre is a multi-disciplinary team that looks after our disability claimants. Everything we do is to help them get the care they need through this unforeseen life event.
Want to know more?
You can choose to cover all your employees or a group of employees.
Employees will not be able to opt-in or opt-out.
You can provide your employees with Group Insurance Benefits by purchasing group insurance through your retirement fund (approved insurance benefit) or outside your retirement fund (unapproved insurance benefit). For unapproved benefits, the insurance premium is taxed as a fringe benefit in the hands of the employee. Unapproved benefits are tax free when the employee receives the benefit.
Employees cannot keep their Group Insurance Benefits when they leave your employment, but can convert them to an individual policy with Momentum Myriad.
Employers can only claim a tax deduction on the premiums in terms of section 11(ww)(i) of the Income Tax Act if they are the policyholder and only if the premiums are taxed as a fringe benefit in the hands of the employees.