This is a non-medical plan that provides Personal Accident Protection & Group Life Coverage in a single package.Â
Special Features of the TIP for Life
- 60% of the premium paid is allotted to insurance and earning interest annuallyÂ
- 40% of premiums paid is allotted to the insurance benefits
- 5% of premiums provides a retirement bonus (conditions apply)
- Six (6) options from which to choose, with maximum benefits ranging from $1.5 million to $5 million.
Benefits
- Loss of Life Accident Indemnity
- Accident Permanent Disablement
- Accident Permanent Total Disability (payable for up to 100 months)
- Natural Death
- Surgeon’s Fee Reimbursement
- Accident Medical Expense Reimbursement
- Accident Disability Monthly Income (payable up to 104 weeks of total disability)
- Sickness Disability Monthly Income (Benefits begin after 30 days of illness, payable up to 104 weeks of total disability)
- In Hospital Monthly Income (payable up to 104 weeks of total disability)
- Maternity (Caesarean, Natural Birth, Miscarriage)
“Worry Less About Tomorrow. With TIP Insurance there is no need to borrow.”
Why TIP for life?
- 40% of the monthly premium is saved and accessible
- Personal Accident Protection and Group Life coverage
- Retirement Benefit Bonus
General Information
Target Group
- Age Group: 18 – 55 years
- Applicable to all persons employed within the field of education
- Applicable to member’s spouse
Premium
Payable monthly through salary deduction. Â
Eligibility
All employed persons residing and working in Jamaica between the ages of 18 and 55 years. Coverage terminates at age 70 or at retirement, whichever comes first.
Coverage
Members are covered for 24-hours all risk during business or pleasure, anywhere in the world. 75% of salary for income replacement governs the options that members can purchase. All benefits are paid in Jamaican dollars.
