TEAM group term life insurance

Life insurance for employees through which you take care of their future and save on taxes

Covers the employees not only at work

Valid 24/7

worldwide

I am interested

Benefit for employees through which you protect their future

Significantly lower rates compared to individual insurance

We do not take into account the health condition of the employees

Insurance is a tax deductible expense

TEAM group term life insurance for employees is a win-win strategy for you and your employees. You show your team that you care about their futures, and you can deduct the cost of this benefit from your taxes. In the event of death or a serious illness, accident or disability, this insurance will help to overcome difficult times. You can set the same amount of insurance coverage for all employees or you may set a different amount, depending on their job classification.

Main advantages of TEAM group term life insurance for employees

Minimal administration compared to other types of financial benefits.
Compared to individual insurance, TEAM life insurance for employees offers a better price.
Life insurance for employees is a tax-deductible expense, so it saves your company taxes every year.

Employee benefit that increases the satisfaction and loyalty of your employees.

Employee insurance can be arranged regardless of health condition.
The sum insured of employee insurance can be set as a multiple of the gross monthly income of the insured employee or a fixed amount, which can be the same or different for individual employees.

Description
Advantages

This branch of a foreign company manufactures industrial machinery and equipment in the Czech Republic and employs 416 people. Almost half of them are women, 11% of employees hold manual positions in production. The employer decided to provide employees with a benefit in the form of TEAM group term life insurance and chose insurance against the risk of death and permanent consequences of an accident with a fixed sum insured.

Risk	Sum insured	Recommendation
Death	CZK 360 000	Amount that will help the bereaved family overcome the most difficult times
Permanent consequences of an accident from 0.001%	CZK 500 000	The insurance covers the permanent consequences of the accident from the minimal possible consequence
Monthly premium for one employee	CZK 84

Employer's costs (insurance premiums)

Annual premiums for all employees	CZK 419 328
Monthly premiums for all employees	CZK 34 944
Monthly average premiums for one employee	CZK 84

Employee’s costs in connection with the provided benefit

Social and health insurance (6.5%+4.5%)	CZK 9
Income tax (15%)	CZK 13
In total	CZK 22

The employer's costs do not include the social and health insurance contributions.
The average monthly cost may vary regarding an individual employee depending on the premium according to the age and the sum insured related to the salary level.

The company operates in the Czech Republic in the field of development of IT solutions and SW. The company has 42 employees, mostly IT developers, with an average gross monthly salary of CZK 100,670. The employer decided to provide the employees with a benefit in the form of TEAM group life insurance and chose the insurance against the risk of death. In the event of an employee's death, the survivors or the designated person shall receive an amount of 36 monthly salaries.

Risk	Sum insured	Recommendation
Death	36 monthly salaries	Amount that will help the bereaved family overcome the most difficult times
Monthly premium for one employee		CZK 317

Employer's costs (insurance premiums)

Annual premiums for all employees	CZK 159 612
Monthly premiums for all employees	CZK 13 301
Monthly average premiums for one employee	CZK 317

Employee’s costs in connection with the provided benefit

Social and health insurance (6.5+4.5%)	CZK 35
Income tax (15%)	CZK 48
In total	CZK 83

The manufacturer of medical supplies and aids employs 383 people in two plants. The employer decided to provide all employees with a benefit in the form of TEAM group risk life insurance and chose insurance against the risk of death, disability and permanent consequences of an accident with insurance amounts in the form of a multiple of the monthly salary.

Risk	Sum insured	Recommendation
Death	24 monthly salaries	Amount that will help the bereaved family overcome the most difficult times
Disability of 3rd degree	24 monthly salaries	Disability affects the whole family and the employee can be sure that everyone will have time to adapt to the situation
Permanent consequence of an accident from 0.001%	24 monthly salaries	The insurance covers the permanent consequences of the accident from the minimum possible consequence
Monthly premium for one employee		CZK 252

Employer's costs (insurance premiums)

Annual premiums for all employees	CZK 1 157 316
Monthly premiums for all employees	CZK 96 443
Monthly average premiums for one employee	CZK 252

Employee’s costs in connection with the provided benefit

Social and health insurance (6.5%+4.5%)	CZK 28
Income tax (15%)	CZK 38
In total	CZK 66

This construction company consists of 17 people, including the company's management. The employer decided to provide employees with a benefit in the form of TEAM group risk life insurance and chose insurance against the risk of death, disability and permanent consequences of an accident with above-standard sums insured.

Risk	Sum insured	Recommendation
Death	CZK 2 600 000	Amount that will help the bereaved family overcome the most difficult times
Accidental death	CZK 2 600 000
Disability of III. degree	CZK 2 600 000	Disability affects the whole family and the employee can be sure that everyone will have time to adapt to the situation.
Permanent consequence of an accident from 0.001%	CZK 2 600 000	The insurance covers the permanent consequences of the accident from the minimum possible consequence
Monthly premium for one employee		CZK 341

Employer's costs (insurance premiums)

Annual premiums for all employees	CZK 69 564
Monthly premiums for all employees	CZK 5 797
Monthly average premiums for one employee	CZK 341

Employee’s costs in connection with the provided benefit

Social and health insurance (6.5 %+4.5 %)	CZK 38
Income tax (15%)	CZK 51
In total	CZK 89

PRACTICAL EXAMPLES

Manufacturer of industrial machinery and equipment

IT sector company

Manufacturer of medical supplies

Construction company

Death

Whether it is an accident at work, an accident outside of work, or a death due to an illness, we will pay the agreed sum insured to the beneficiaries (partner or family).

Disability

Life insurance for employees also covers disability of II. or III. degree as a result of an illness or injury.

Permanent consequences of an accident

Up to five times the agreed sum insured can be obtained by an employee who suffers a serious injury with permanent consequences.

Serious diseases

We will provide insurance benefits for 20 types of serious diseases, including heart attack, stroke, cancer, or multiple sclerosis.

Incapacity for work

In the event of a long-term incapacity for work, the employee receives the insured benefit in the amount of the agreed daily allowance. Entitlement to this payment arises after 29 days of incapacity for work.

Documents to download

Information for persons interested in collective accident insurance TEAM – 6. 12. 2021 (531 kB)PDF
Information for persons interested in collective life insurance TEAM – 6. 12. 2021 (543 kB)PDF
Information document about the insurance product collective insurance TEAM (442 kB)PDF
Insurance condition for group accident insurance TEAM – 6. 12. 2021 (641 kB)PDF
Insurance condition for group risk life insurance TEAM (598 kB)PDF

How to report an insured event

Please fill in the relevant form related to your insured event and then send it, together with the necessary attachments, to the address: Komerční pojišťovna, a. s, Palackého 53, 586 01 Jihlava. You can also call us at any time.

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TEAM group term life insurance

Covers the employees not only at work

Valid 24/7

worldwide

Main advantages of TEAM group term life insurance for employees

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

PRACTICAL EXAMPLES

Manufacturer of industrial machinery and equipment

IT sector company

Manufacturer of medical supplies

Construction company

What can be insured?

Death

Disability

Permanent consequences of an accident

Serious diseases

Incapacity for work

Non-binding offer

Contact us

Documents to download

How to report an insured event

TEAM group term life insurance

Covers the employees not only at work

Valid 24/7

worldwide

Main advantages of TEAM group term life insurance for employees

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

​Employer's costs (insurance premiums)​

Employee’s costs in connection with the provided benefit

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

Employer's costs (insurance premiums)

Employee’s costs in connection with the provided benefit

PRACTICAL EXAMPLES

Manufacturer of industrial machinery and equipment

IT sector company

Manufacturer of medical supplies

Construction company

What can be insured?

Death

Disability

Permanent consequences of an accident

Serious diseases

Incapacity for work

Non-binding offer

Contact us

Documents to download

How to report an insured event

Employer's costs (insurance premiums)