Group life and accidental insurance as a benefit for Johnson & Johnson employees

What is covered?

• death due to any illness
•  death due to accident

The insured event is the death of the insured due to an accident

• Sudden impact of an external force or the insured’s own body force independently of the insured’s will
• The insurance benefit is paid to the beneficiary
• In case of death due to accident is the insurance benefit paid from rider death due to any causes and from rider accidental death = 3x gross yearly salary

The insured event is a permanent bodily injury.

• In the event of a claim the insurance company will pay a single benefit in the amount of the relevant percentage  ( 0,5 % - 250 % sum insured)
• The insurance benefit is paid to the insured
• Insurance company will pay a benefit in the amount of the relevant percentage, which correspond to the extent of the bodily injury as set out in the valuation table

Example:

• Loss of one tooth  - 0,5 % sum insured
• Total loss of vision in one eye 40 % sum insured (55% with progression)

An insured event is total and permanent disability which occurred no earlier than after the date of the joining the insurance of the given insured person, is confirmed by a disability assessment and other documents proving the state of health of the insured person and is confirmed by the insurance company’s physician.

Insurance benefits will be paid in 3 instalments:

• 1. instalment 25 % of the sum insured after one month of delivery of the disability assessment to the insurance company        
• 2. instalment 25 % of the sum insured after 12 months of delivery of the disabulity assessment to the insurance company
• 3. instalment 50 % of the sum insured after 24 months of delivery of the disabulity assessment to the insurance company