I have a group scheme at work: how does it work, do I need my own too, and what happens when I leave?

The employer is the policyholder and pays all or part of the premium. You are an insured member, with the covers its policy sets for your category. Ask for the table of benefits to see exactly what you get.

Ask HR for the table of benefits and the terms that apply to members, or ask the insurer using your member number. Ask in writing and keep a copy. Without them you cannot know your limits and exclusions.

Usually one of the two: a multiple of annual salary, or a fixed amount for everyone or per category. If your salary changes, the cover may change too. The table of benefits says which applies to you.

It depends on your commitments and your family: loans, children, for how many years your income would be missed. For many families with a loan and young children, two years’ salary does not go far. Start from your own numbers, not from a multiple.

It is the possibility, if the scheme provides it, of taking an individual policy without new medical evidence when you leave. The deadline is usually short and is written in the policy. In Cyprus we found no law guaranteeing it, so ask in writing before your last day.

Usually not. The individual premium is worked out on your age at the time and under the rules for individual policies, and the covers may differ. Ask for the offer and the terms in writing before you decide.

It usually ends on the date the policy sets, and with it the cover of family members on the plan. If there is a continuation option, it is time-limited. Ask before you leave, and if there is none, arrange new cover before the old one ends.

Usually yes while you remain an employee and the employer pays, but the rules for long absences differ. Ask HR in writing before the leave, especially about the newborn and the date by which the baby must be added.

Because in a group the risk is shared among many people who joined for their job, not for their health. In an individual policy, the insurer judges your own risk. So if you have a health issue, group cover can be valuable; do not lose it without a plan.

It is the amount of cover up to which the scheme accepts every member without medical evidence. If your cover (for example because of a high salary) exceeds the limit, you may be asked for a questionnaire for the extra amount. Ask whether it applies to you.

It usually ends at retirement or at an age the scheme sets. Six months before, ask whether it can continue individually and on what terms. A new application at 65 is possible, but it is judged on your age and health; GESY covers you as a pensioner too.

Some schemes allow extra voluntary cover that you pay for, often with medical questions above an amount. Remember that it usually ends when you leave too. An individual policy of your own follows you wherever you work.

In many schemes you can fill in a beneficiary nomination form; in others the scheme rules decide. Ask HR, fill in the form in writing and update it after a marriage, separation or a child.

Usually yes for life cover, because each scheme pays its own amount. For health, if both cover the same costs, you are not paid twice for the same cost; the terms say how it is shared. Tell both when you make a claim.

A provident fund is saving for retirement, in a legal entity separate from the employer, supervised by the Registrar of Occupational Retirement Benefit Institutions. A group insurance plan is cover for life, health or income. Some funds also include life cover; ask.

Often yes: some employers add new staff after probation, and some schemes have their own waiting periods for certain covers. Ask from when exactly you and your family are covered. If you are changing jobs, do not leave a gap.

Only if the scheme includes income protection; plain life or health cover does not pay a salary. In many group schemes the benefit is paid to the employer, which passes it to you through payroll, after a waiting period. Ask how it works in your scheme and how it combines with sickness benefit.

While you work there, perhaps not for the same things. The question is what happens if you leave, if the scheme changes, or if you fall ill and later need new cover. Look at the limits and exclusions, and think about what you would do if the cover stopped tomorrow.

Only if the scheme provides for it and you have added them; in some schemes the employee pays for family cover. Ask up to what age children stay on and what happens to your family if you leave.

It happens: some group schemes exclude pre-existing conditions or cover them after a waiting period, while others, especially for large groups, accept them. Ask for the clause in writing and ask whether the exclusion is permanent or for a set period.

It depends on how the scheme is set up: in many you send the claim directly to the insurer with your member number, in others through HR. Ask about the procedure before you need it, and keep copies of what you send.

Alongside. GESY is universal and based on legal residence, and your contribution is paid anyway. A group plan is a complement, for choice, speed, room or gaps. Ask how it works with GESY in practice.

Article 8 of the Income Tax Law exempts lump sums paid as a death gratuity or as compensation for death. Cyprus has had no estate duty since 2000. Whether a particular payment falls there, confirm with a tax adviser.

It can be, as a benefit that keeps people, but for very small groups the terms are often closer to individual ones (for example medical questions). Keep it separate from employer’s liability insurance, which is compulsory under Law 174/1989 and covers something else. The group-plan tool helps you see what drives the cost, without prices.