Friends Provident International (FPI) has launched its Optus Group protection policy in the Middle East.
The policy enables employers in the region to offer additional benefits to employees and is designed to compliment the Optus Group Savings scheme, launched last year.
It provides life cover to each member, while additional options such as total and permanent disability benefit can be added if required.
Key options of the Optus Group Protection policy are:
- Flexible benefit levels
- No maximum membership but a minimum of five employees per benefit group
- Choice of policy currencies: the dollar, euro, sterling and UAE dirham
- Life cover up to five times an employee's annual salary
- Accidental death benefit
- Total and permanent disability benefit
- Free cover limit and repatriation benefit
"The Optus range can help employers to meet their gratuity requirements and to recruit and retain the quality employees they need to develop their business," says Philip Story, head of employee benefits (Middle East) at FPI.
The policy will help employers in the UAE meet their obligations as it is compulsory for employers to provide a lump sum, or gratuity for an employee at the end of their employment. This is regardless of age, providing they have completed more than one year's continuous employment.
The Optus product is currently available solely in the Middle East.
Advisers can contact their FPI regional sales manager or visit www.fpinternational.com for more information.
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