SME staff benefits with the Metropolitan Group Protection Plan.
South Africa has between 2.4 million and 3.5 million?Small Medium and Micro Enterprises (SMMEs)?in operation, which means that as a small business owner,?you are not alone.?While you may be focused on cashflow,?expanding on your goods or service offering,?plus?getting new?customers?and keeping the doors open,?it?can be easy?to overlook a key ingredient for the longevity of your business –?risk?protection for your employees.?
Traditionally, being employed in a small business can be looked at as riskier and less rewarding than?a?larger organisation and this comes down to job security and the benefits employees of small business receive.?As a financial services?provider?that has?offered insurance solutions for South Africans for over a century, we are doubling down on the efforts by launching?a comprehensive funeral, life cover and?occupational?disability?insurance policy to put the power of financial?security?and secure(d) employment opportunities?in the hands of?SMEs.
The?Metropolitan Group?Protection?Plan?is simple insurance cover that can be taken up by the owner of the business, to cover direct employees?and?their?immediate family members?(minimum 5) and personalisation?is at the core of this product.?
What does the Metropolitan Group Protection Plan include:?
By their nature, small businesses have equally small staff disciplines. Protection for one’s life in case of dread disease or?death is vital. A life cover?policy?is meant to help your employee’s beneficiaries maintain their lifestyle and cover key expenses, should the breadwinner pass on or be unable to earn an income.
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The average?funeral cost?in South Africa is estimated?at?between R 3000 – R50 000 in 2024. Considering this may be several?months' worth of?your employees’ salary, funeral cover plays a critical part in managing risk and financial?wellness.?The cover amount you can select ranges from R5000 to R50 000,?which will be paid out?when?your employee or any?family member?covered under the policy, passes on.?Children under the policy are covered until the age of 21.
Accidents happen.?Occupational hazards are a serious concern for most employers,?which makes this?cover?key for peace of mind as an employer. You can?customise?the amount of?cover for your employees that will be paid out as a single lump sum should they be?rendered unable to work in your?organisation?or do duties in a suitable alternative occupation.?
In the current economy, an insurance solution that provides cover suited to the needs of the people it services is a must.?Focusing on the?core?areas of cover; life, disability, and funeral, your employees?get?great benefits and security that rivals big corporates in South Africa.?On the flip side, this helps you manage?your costs and risks?to ensure you don’t overstretch your budgets.
By getting group risk insurance for your employees, you showcase to them your commitment to their wellbeing and the value they bring to your business, and in turn, enhance their efforts to its growth and sustainability.?Operating a small?business is complex, but with the Metropolitan Group Protection Plan, we can make sure your employees are?protected, so you can get on with the business of doing?business.
Get a quote ?for your?Metropolitan Group Protection?Plan, or?email your interest to ?[email protected] ?for a trusted adviser to?get?in touch with you.
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