Collective life insurance for Gáldar Municipal Council employees

Summary

Gáldar Municipal Council is procuring group life insurance for its employees under employment contracts. The new policy will replace the existing one and pay the agreed benefits to insured employees or their beneficiaries. The insured group numbered 136 in May 2026 and also includes employees joining during the contract. Cover applies worldwide, 24 hours a day, regardless of the employee’s work status. Enrolment is automatic, with no application or medical certificate required. Main benefits per insured person are €15,000 for death from any cause; €30,000 for death caused by an occupational accident or disease; €30,000 for permanent total incapacity for any occupation; €20,000 for permanent total incapacity for the usual occupation; up to €12,000 for partial permanent incapacity caused by an accident, according to the benefit scale; and €30,000 for severe disability. In cases of incapacity, an additional length-of-service award is payable: €3,000 for 10–20 years of service, €6,000 for 21–30 years and €9,000 for more than 30 years. These amounts are updated by the statutory interest rate. Benefits do not accumulate, except that the length-of-service award is added to incapacity benefits. The initial term is two years, with the possibility of extensions totalling up to a further two years, granted annually. The annual budget ceiling is €170,000 and the ceiling for the initial two-year offer is €340,000; the estimated total value including extensions is €680,000. Payments are normally made quarterly. Bids are scored on price (up to 50 points) and improved profit participation (up to 50 points); the policy requires at least 20% profit participation and sets administration expenses at 20%. Bidders must provide premium rates by insured person’s actuarial age and sex. Participation requires the relevant life-insurance authorisation and compliance with the turnover and previous-experience thresholds.