The MSV Professional Group Benefit Plan provides valuable financial assistance to protect the business from the loss of a partner, director or key employee by paying a tax-free lump sum on death, disability or on the diagnosis of a critical illness. The lump sum payment can be used to help the business, the family or both.
The MSV Professional Group Benefit Plan is designed for small and medium-sized professional companies and provides cover for what we would all prefer not to think about: the loss of life, becoming permanently disabled or being diagnosed with a critical illness. As a professional you understand how you and your fellow partners, directors and key employees contribute to the success of your business. Taking out an MSV Professional Group Benefit Plan is one of the best ways to give you peace of mind that your business can continue in the way that you want following the loss of a partner, director or key employee.
- Death benefit will be paid as a tax-free lump sum to designated beneficiaries.
- The lump sum benefit can be used to maintain a family’s standard of living, help pay off any outstanding loans or help to secure a child’s future.
- Persons covered have the option to increase the amount of life insurance provided by the employer.
- Persons covered have the option to include their spouses under the same Plan.
- Individual Member Certificates can be issued which may be pledged with banks and financial institutions as acceptable collateral against borrowings.
- Group Continuation Options: Existing members and members who leave a Group Benefit Plan issued by MSV Life p.l.c. can take out an individual life policy with MSV Life p.l.c. without medical evidence.