Employee life insurance
The product in brief
For companies
Employee life insurance: protecting your team as part of the benefits package
A group life insurance programme is a contract that a company concludes for the benefit of its employees. If misfortune strikes an employee, they or their family receive an insurance payout, and the employer does not have to scramble for money for financial assistance. For a business, it is a clear way to care for people, retain specialists and strengthen its reputation as an employer. The calculator above estimates an indicative budget, and the Dynasty insurance agency will gather and compare offers from several licensed insurers.
How group programmes work
The company is the policyholder and the employees are the insured persons. The contract covers the whole workforce at once or specific categories of employees according to a list. The sum insured can be the same for everyone, linked to salary or differentiated by position. During the term, new employees are added to the programme and those who leave are removed — the procedure is set out in the contract.
Risks that can be included
- Death from any cause
- Death as a result of an accident
- Disability from any cause or from an accident
- Temporary inability to work
- Injuries and hospitalisation
What the employer gains
- A more attractive benefits package
- A loyal and stable workforce
- A ready mechanism for helping an employee’s family
- Predictable costs instead of unexpected ones
How it differs from compulsory employee insurance
The law requires employers to insure employees against accidents in the course of their work duties. Such a policy covers only work-related events and does not extend to illness or incidents outside work. A voluntary life insurance programme complements the compulsory one: it can apply around the clock, worldwide and include risks from any cause.
| Parameter | Compulsory insurance | Voluntary programme |
|---|---|---|
| Basis | Legal requirement | Company decision |
| When it applies | While performing work duties | Can apply around the clock |
| Causes of events | Workplace accident | Any cause can be included, including illness |
| Payout amounts | According to the law | Agreed in the contract |
Tax aspects
Kazakhstan’s legislation provides for specific tax treatment of insurance premiums paid by an employer under employee insurance contracts. The conditions under which such costs are deductible and do not create taxable income for the employee depend on the type of programme and change from time to time. Before concluding a contract, agree the accounting treatment with your accountant or tax adviser.
Tip. Start with basic cover for the whole workforce and extended cover for key specialists. This structure helps manage the budget while still protecting everyone.
What the price depends on
- Group size. The more people insured, the more stable the calculation.
- Sum insured. Fixed or as a percentage of salary.
- Set of risks. Risks from any cause cost more than accident-only cover.
- Age profile and type of work. Office staff and production workers are assessed differently.
- Territory and time of cover. Around the clock or during working hours.
Tender in your personal account
For companies, Dynasty offers a convenient selection format: in your personal account you can post an insurance request and attach the employee list and programme parameters. We send the request to insurers, collect their offers and present a comparison in a single table. You choose the best combination of cover and price without spending time corresponding with each company.
How to apply
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Estimate
Enter the number of employees, the sum insured and the risks in the calculator.
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Tender and comparison
Post a request in your account — we will collect offers from insurers.
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Contract
Sign the contract, pay the invoice and share information about the programme with your employees.
What to prepare
- Company details and BIN
- A list of employees with IIN and dates of birth
- Information on positions and the nature of the work
- Desired sums insured, risks and term
What to do when an insured event occurs
- Notify the insurer or Dynasty of the event within the period specified in the contract.
- Collect medical documents, a disability certificate or a death certificate.
- Prepare company documents confirming that the employee is on the list of insured persons.
- Submit a claim on behalf of the employee or the beneficiary.
- Follow the review — we will help with communication and any additional requests from the insurer.
Care for people that shows
Estimate a preliminary budget in the calculator above and launch a tender in your personal account. Dynasty’s specialists will help design the programme and support the company when insured events occur.
This material is for information only and is not a public offer or tax advice. Programme terms are determined by the contract and insurance rules of the specific insurance company.
Frequently asked questions
What is the minimum number of employees for a group programme?
The minimum group size depends on the insurer’s rules. Programmes are available both to small teams and to large enterprises. We will confirm the exact terms after receiving your request.
Does a voluntary programme replace compulsory employee insurance?
No. Compulsory insurance against accidents in the course of work duties is required by law regardless of any voluntary programme. The voluntary policy complements it and broadens the protection.
Can different sums insured be set for different positions?
Yes, the sum can be the same for everyone, linked to salary or differentiated by employee category. This helps manage the programme budget flexibly.
How do I add a new employee to the programme?
The procedure for adding and removing employees is set out in the contract. Usually the company sends the insurer an updated list, and the premium is recalculated in proportion to the remaining term.
How does the tender in the personal account work?
You post a request with the programme parameters and the employee list. Dynasty sends it to insurers, collects the offers and provides a comparison. The company makes the final choice.
Are there tax benefits for the employer?
The legislation provides for specific tax treatment of premiums under employee insurance contracts. The conditions depend on the type of programme and change over time, so agree the accounting treatment with your accountant or tax adviser.
Who receives the payout when an insured event occurs?
The employee receives the payout, and in the event of their death — the beneficiary or heirs. The employer helps collect the documents and submit the claim.