CAOGA Group Scheme – Life Assurance

Life insurance is a contract between an insurance policy holder and an insurer where the insurer promises to pay a designated beneficiary a sum of money, “the benefits”, upon the death of the insured person. In the case of the policy provided through CAOGA Terminal illness is also covered.
The advantage for the policy holder is “peace of mind” in knowing that one’s loved ones are adequately covered in the event of the death of a member.

CAOGA negotiates a Group policy on behalf of its members. The Group Life Policy is a legal contract and the contract describes the limitations of the insured event. The Policy is negotiated by the CAOGA Committee for you its members and is specifically designed to cater for the needs of members of the Defence Forces. Therefore, there are no special loadings for overseas service and high risk areas of employment.

The Group Insurance Policy Contract falls due for renewal every three years and the primary factors affecting renegotiation are recent claims history and an actuarial review of the age profile of members.