Guidelines For Life Insurance Policy

GUIDELINES FOR LIFE INSURANCE POLICY FOR EMPLOYEES JOINTLY ISSUED BY NATIONAL INSURANCE COMMISSION AND NATIONAL PENSION COMMISSION

1. INTRODUCTION 1.1 Section 9 (3) of the Pension Reform Act 2004 (The Act) requires every employer, to which the Act applies, to maintain Life Insurance Policy in favour of the employee for a minimum of three times the annual total emolument of the employee.
2. For the purpose of establishing uniform set of rules, guidelines and standards in relation to the application of the provisions of Section 9 (3), the following minimum guidelines shall apply.

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