Life Insurance

VMware provides Life Insurance through Discovery Life.

Eligibility

All regular VMware employees are eligible for Life Insurance.

Benefits

If you should die while in the service of VMware due to illness or injury, your beneficiaries will receive a lump sum payment according to the following schedule:

Death Benefit:

Sum insured 4 x times the annual gross salary (with the option to flex up 2 x times at the employee’s own cost).
100% of the Sum Assured is payable to the heirs under the civil legislation or to formally designated Beneficiaries.
A Beneficiary Nomination Form is required for all members for the Life Insurance benefit. This form should be completed on the Discovery app or Member Portal. In the absence of a Beneficiary Nomination Form, the proceeds will be paid to the Estate Late account, with no exceptions.

Funeral Benefit:

A funeral grant ranging between ZAR 1,875 to ZAR 15,000, is covered by the insurance.
A Funeral Nomination form is required for a Funeral claim. This form should be completed on the Discovery app or Member Portal. In the absence of the Funeral Nomination Form, payment will be made to the Estate Late account, with no exceptions.

Contributions

VMware pays 100% of the premium cost for Life Insurance. Employees are responsible for paying the optional 2 x voluntary coverage upgrade costs.