Bancassurance

Enjoy this highly yielding arrangement between Housing Finance Bank (HFB) and our respective insurers under which Housing Finance Bank distributes insurance products from the insurer to our customers, through all HFB distribution channels.

With The HFB Bancassurance Comes The Following Benefits:

  • Convenience of buying insurance through a trusted intermediary
  • Greater access to wider financial services
  • The bank will help you find the best insurance cover at the best price
  • Professional advice on your suitable type of insurance coverage
  • Insurance claims are dealt with through the bank to save you the hassle and worry of what can be a difficult and frustrating process.

Our Available Range Of Products Include:

Motor Comprehensive:

This product covers loss of or damage to the policy holder’s own vehicle(s) which may be due to fire, theft or accident. The policy also extends to provide third party liability protection to the motorist or vehicle owner.

With this product comes other extensions that may include:

  • Cost of an alternative vehicle to use in case of an accident or theft
  • Cost of alternative accommodation in case of an accident
  • Damage to the vehicle as a result of wrong fueling
  • Funeral expenses
  • Personal effects for the driver following an accident
  • Cost of replacing locks and keys including remote alarm controller
  • Towing Expenses (Breakdown services)
  • Claims Preparation costs e.g. Police report

Additional Information Required to Issue Quotation And Policy May Include:

  • Vehicle value
  • Vehicle log book
  • Current photos of the vehicle
  • Filled proposal form

Home Insurance:

Our Home Insurance product covers client(s) for physical losses and damages to an individual’s house and to assets in the home due to fire, lightening, explosion, floods, storms, earthquake, theft, riots, strikes and civil commotion.

Information Required To Issue Quotation and Policy May Include:

  • Value and location of property
  • Physical inspection (current photos)

Education Insurance Plan:

This is an education savings plan that enables parents or guardians to gradually accumulate funds towards funding their child’s future education payments.

Core Features:

  • Minimum saving period is 5 Years
  • Payment frequency could be monthly, quarterly, biannually, half-yearly, annual

Benefits:

  • Life Cover of 10%
  • Child Income Benefit – 12% of the sum assured per year till maturity
  • Waiver of premium on death of the client
  • Return on the savings

Additional Information Required to Issue Quotation And Policy May Include:

  • Sum Assured (Target savings amount)
  • Preferred saving period
  • Beneficiary details (i.e. Name & Date of birth)
  • National ID
  • Filled proposal form
  • Filled Direct debit authority form
With the HFB Bancassurance Service, One Can Enjoy Our Other Bancassurance Solutions That Include:

  • Burglary/Theft Insurance
  • Travel Insurance
  • Personal Accident Insurance
  • Workers Compensation Insurance
  • Marine and Goods in Transit Insurance
  • Agriculture Insurance
  • Credit Life Insurance
  • Group Life Insurance
  • Mortgage protection insurance

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