Two possible solutions
Active beneficiaries, who are referred to below as “the beneficiaries”, of CPIC have the possibility of taking out two group insurance schemes agreed between CPIC and two insurance companies
Group accident insurance with death and disablement benefit, or disablement benefit only.
Group life insurance.
By virtue of Article 11 c of the Statutes, these two insurance schemes are independent of the provident capital beneficiaries built up at CPIC. Beneficiaries are offered the choice of either insurance scheme or both. These schemes are optional.
Insurance premiums are 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/s.