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Group Insurance

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.

  • Helps your employees be financially prepared for events that could change their lives.
  • Protect employees’ family from financial burden when they are no longer able to earn an income.
  • Employees pay for what they need with flexible Group Insurance Benefits.

Our Group Insurance Benefits

Employees who feel cared are more are more likely to contribute to your business’ journey to success. Provide them with Group Insurance Benefits to help protect their financial future and give them peace of mind if a major life event prevents them from earning an income.

Death Benefits

We provide financial protection to your employees and their families if they or one of their family members passes away.

Disability Benefits

We assist your employees financially and support them to receive the care they need to get back to work.  

Illness Benefits

If an employee is diagnosed with a critical illness or hospitalised, we help them cover potentially overwhelming expenses and lifestyle adjustments.

A benefit for creditors

Credit Life Benefit

The benefit protects creditors by assisting with the repayment of outstanding amounts following death, disability, or critical illness.

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.

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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.

A young mom strapping in her daughter into her car seat behind the driver's seat.

Family Assistance Benefit

Help during traumatic life events

We are here to help your employees and their families 24/7, 365 days of the year to support them during traumatic life events, such as funeral arrangements, counselling, and emergency medical services.

A dad is washing his car with his two young daughters while splashing water on each other.

Children’s Education Benefit

Every child deserves a good education

This benefit pays out from pre-primary school (Grade R) and continues through primary and high school to tertiary education. Employees also have access to an online study service called Studymaster.

Tools and Calculators

Our calculators are used as a guideline. We always recommend that you consult with your financial adviser who will be able to provide financial advice based on your own unique needs and financial goals.

Disability

Disability 2.0 member level
calculator

Help your employees understand their potential Income Disability Benefit and to show what they could be covered for.

Disability

Disability needs
calculator

Calculates how much money your employees’ will need to take care of their family after being diagnosed with a disability.

Life Insurance

Life insurance
calculator

Help your employees determine if their Death Benefit is enough to take care of their family if they pass away.

Approved Benefit

Tax replacement
calculator

Calculate the tax payable on the approved lump sum death benefit so that the benefit can be increased to include the tax amount.

Want to know more?

Will all my employees be covered?


You can choose to cover all your employees or a group of employees.

Can employees decide to opt-in or opt-out?


Employees will not be able to opt-in or opt-out.

What is the difference between approved and unapproved benefits?


Employers can opt to provide employees with Group Insurance Benefits by purchasing group insurance through their retirement fund (approved insurance benefit) or outside their retirement fund (unapproved insurance benefit). For unapproved benefits, the insurance premium is taxed as a fringe benefit in the hands of the employee. When the employee receives the benefit, it is tax free.

If an employee leaves your employment, can they keep their Group Insurance policy?


Employees cannot keep their Group Insurance Benefits when they leave your employment, but can convert it to an individual policy with Momentum Myriad with the same benefits.

What are the tax benefits if I offer my employees Group Insurance Benefits?


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.

Want a brochure?

Download the Group
Insurance brochure.

Need advice?

Get one of our financial
advisers to call you back.

Other Momentum Corporate products

FundsAtWork Umbrella Fund

Comprehensive and flexible retirement and insurance solutions with value-added benefits.

Investments

Our range of investment portfolios can be tailored to suit your employees' retirement goals and investment needs.

Annuities

Help secure the financial success of your employees in retirement.

Health Corporate

Flexible healthcare cover to suit employees’ needs and budget.

Momentum Retirement Administrators

We provide flexible administration services that can be customised for standalone retirement funds.

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