Group Life Insurance
Off by default: enable it if your policy is on the platform.
Group life cover is a statutory employer obligation in some countries (for example Nigeria under PenCom PRA §4(5)) and a voluntary staff benefit elsewhere; many employers manage it outside payroll.
Group Life is OFF by default for every business, in every country. To have AkountFly compute and post the group-life cost line in payroll, enable it under Settings → Tax.
Additionally, you can indicate Group Life coverage per employee by navigating to Edit Employee and selecting the appropriate option under Tax.
Step-by-step
- 1Access Settings
Go to Settings in the sidebar and select the Tax tab.
Access Settings - 2Enable Group Life
Find the Group Life toggle and switch it on to include the cost in payroll.
Only enable if your policy is managed on the platform.Enable Group Life - 3Edit Employee Tax
For individual coverage, go to Edit Employee and update the Tax section.
Edit Employee Tax