Active beneficiaries, who are referred to below as “the beneficiaries”, of CPIC have the possibility of taking out a group insurance scheme agreed between CPIC and an insurance company.
It is a group accident insurance with death and disablement benefit, or disablement benefit only.
By virtue of Article 11 c of the Statutes, this insurance scheme is independent of the provident capital beneficiaries built up at CPIC. Beneficiaries are offered the choice of insurance category.
This scheme is optional.
The Insurance annual premium of the insurance category chosen is deducted directly from the beneficiary’s individual CPIC account. Beneficiaries are therefore requested to ensure that there are sufficient funds for this purpose in their account failing which CPIC shall be obliged to cancel the insurance.