Commercial Union Poland Life Insurance Company has expanded the scope of protection in its Guardian group life insurance for medium and large companies and organisations.
Commercial Union Poland Life Insurance Company has expanded the scope of protection in its Guardian group life insurance for medium and large companies and organisations. The enriched package of accident and health insurance makes it easier for corporate customers to use the group insurance as an instrument to keep valuable employees when facing the growing demands of the employment market.
Guardian unit-linked life group insurance has been for many years successfully offered to companies and organisations wishing to insure at least 20 people. However, CU's experience, changing client expectations and developments in the insurance and employment markets have led to the introduction of improved and extended protection. This particularly applies to additional accident and health cover (so called options).
"The growing number of jobs in Poland and economic emigration result in employers being increasingly forced to strive to find and keep appropriately qualified and loyal employees. Long-term bonuses specifically related to health protection can be more motivating than remuneration. Thus we recommend to employers the very attractive health and accident package within our Guardian 2007 group product," says Zygmunt Kostkiewicz, deputy chief executive, CU Life.
Guardian 2007's core element is life insurance where the cover can be fixed or be a function of remuneration received by the particular employee. "It is also possible to distinguish a few groups of employees with different covers," explains Włodzimierz Iskra, director of the Institutional Insurance Department, CU Life.
The accident package includes six options: accidental death, accidental death at work, accidental death whilst travelling, health damage resulting from an accident, disability resulting from an accident and inability to work resulting from an accident. "The advantage of our offer is an accumulation of death-related benefits. If for example an insured person dies due to an unfortunate accident at work, the beneficiary shall receive three death benefits," adds Włodzimierz Iskra.
However, the most interesting element of Guardian 2007 offer is the health package. The new Healthy Living hospital cash benefit insurance, which allows the insured to receive a certain amount in case of stay in hospital due to treatment of illness described in the appendix to general conditions (in total about 1,850 cases). One of two protection ranges can be selected: range one includes procedures and operations described in the appendix, and range two is expanded by preventative treatment. "Healthy Living option is not competing with ambulatory medical coverage plans but supplements them with hospital treatment, which is not included in standard policies. The insured person receives cash benefits which can be used according to his or her needs," emphasises Włodzimierz Iskra.
The health package also includes a broad range of critical illness protection. An innovation is the possibility to insure doctors (including dentists), nurses, orderlies, firemen and policemen against HIV infection in precisely described situations. CU also offers a critical illness option for children of insured employees (from birth to 19 years old), covering eight illnesses. Within the package there is a hospital treatment option available if hospitalisation lasts at least five days. "While developing this health package we took into account serious illnesses appearing relatively frequently and forming a real threat - both to health and life of the insured people as well as to their finances," adds Włodzimierz Iskra.
Guardian 2007 insurance allows protection not only for the employee but also the members of his or her family - spouse, children and parents. "So-called family options are very eagerly chosen by our clients, which is specific to the Polish group insurance market," concludes Włodzimierz Iskra.
CU Life has been for years one of the three largest insurers in the Polish group life insurance market. Currently the company services about 12,600 group life insurance programmes covering 230,000 people in total. CU Life also manages 122 employee pension programmes with 22,000 participants.
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Information:
Bohdan Bialorucki
Telephone: +48 22 557 43 41
E-mail: bohdan_bialorucki@cu.com.pl
For further information, see http://www.cu.com.pl/
Notes to editors:
Commercial Union Poland group is part of the international Aviva group - the world's fifth largest insurance, savings and investments group, and the largest in the United Kingdom by revenues. Aviva group operates in 25 countries. It occupies a strong position in the European Union, including United Kingdom, Ireland, France, the Netherlands, Spain, Italy and Poland. It also conducts large scale activities in the USA, Canada, Australia and Asia. It services approx 35 million customers and manages assets valued at over £364 billion. For additional information, see the website /