Group Life & Workmen's Compensation Calculator — Ghana
Enter your total salary bill and cover level — get an instant premium estimate for group life, with optional WC add-on.
Fill in the form to get your premium estimate.
Group Life + Workmen's Compensation — What Each Covers
Group Life
- Death (any cause, any time)
- Accidental death
- Total permanent disability
- Dismemberment
- Selected critical illnesses (e.g. stroke, heart attack, cancer)
- 24-hour, 365-day protection
- VAT-exempt — no VAT on life premiums
Workmen's Compensation
- Work-related injury, disability or death
- Statutory benefits under PNDCL 187
- Medical expenses (with extension)
- Employer's legal liability / court damages (with extension)
- Compulsory in Ghana for all employers
- 20% VAT applies
Who Needs Group Life Insurance
- Corporate employers of any sector
- NGOs and international development organisations
- Banks and financial institutions
- Schools, universities and research bodies
- Government agencies and parastatals
- Any employer wanting to attract and retain staff
WC covers work hours only. Group Life covers 24 hours. Together they give employees complete protection at all times.
Frequently Asked Questions
What is Group Life insurance in Ghana?
Group Life insurance in Ghana is an employer-sponsored life insurance policy that covers all employees under a single master policy. Benefits are paid on death (natural or accidental), permanent disability, and dismemberment. It is commonly provided as an employee benefit alongside Workmen's Compensation and is regulated by the National Insurance Commission (NIC).
How is Group Life insurance premium calculated in Ghana?
Group Life premium in Ghana is calculated as: Total Sum Insured × Rate = Premium Due. The Total Sum Insured is typically the Number of Employees × Average Annual Salary × Salary Multiple (e.g., 2× annual salary). The NIC minimum rate is 0.9% per annum. Life insurance is VAT-exempt in Ghana — no VAT applies.
Is Group Life insurance compulsory in Ghana?
Group Life insurance is not compulsory in Ghana (unlike Workmen's Compensation), but it is widely required by employers as a condition of employment and is increasingly expected by employees as a standard benefit. Many large employers, NGOs, and government-linked organisations include Group Life as part of their staff benefits package.
What is a salary multiple in Group Life insurance?
The salary multiple in Group Life insurance determines the sum assured for each employee as a multiple of their annual salary. For example, a 2× multiple means an employee earning GHS 60,000 per year would have a life cover of GHS 120,000. Common multiples are 1×, 2×, or 3× annual salary. A higher multiple means higher cover and a higher premium.
Is Group Life insurance VAT exempt in Ghana?
Yes. Life insurance premiums — including Group Life — are exempt from VAT in Ghana. Unlike non-life insurance products (motor, fire, liability), Group Life premiums do not attract the 20% composite VAT. The premium due is the net premium after any LTA discount, with no VAT added.