1. Motor Insurance: Comprehensive Cover 

SN

FEATURE

LIMIT/DESCRIPTION

1

Sum Insured

Based on agreed value. No accounting for depreciation

2

Free Windscreen Cover

Replacement Value

3

Alternative Transport up to 15 days

 

Tshs. 50,000/= per day

Alternative vehicle benefit to start after authorization of repairs.

4

Free Towing and Recovery when involved in an accident

Tshs. 2,000,000/=

5

Personal accident for the driver against death and permanent disability

Tshs. 5,000,000/=

6

Third Party Property Damage

Tshs. 100,000,000/=

7

Replacement of key in case it is lost or stolen

Replacement Value

8

One night accommodation following accident happening 100km away from home

Tshs. 100,000

9

Premium Rate

3.5%

Other Benefits: 

-   Fleet discount – 20% for 50 vehicles and above.

2. Home insurance

 

Rates 

  • Building – 0.15%
  • Contents – 0.3%
  • All Risks – 0.5% (Theft to Mobile items (laptops, Mobile phones) covered only within the premises)

Benefits:

  • Reasonable additional expense for alternative accommodation for maximum of 15 days
  • Loss of rent payable to the insured for maximum of six (6) months
  • Personal Accident - Death or PTD up to maximum of Tshs 10,000,000 

3. Premium Payment Plan

  • Offering IPF with concessionary rate from the Bank while interest is covered by insurer.

For Reliance Insurance Company (T) Limited 

Authorized Signatory

 

4. FANAKA INSURANCE

  • This policy covers the life of the insured while providing the policyholder an opportunity to save regularly over a specific period and get a lump sum amount on the policy at maturity.
  • The plan offers a policy term option of 5-10 years and 11-20 years. On maturity of the policy term, policyholder receives a survival benefit of guaranteed returns on the investment from a range of 10% up to 20% of the sum assured and yearly accrued bonus depending on the policy term.
  • Upon death of the policyholder, the family receives up to 175% of the sum assured and yearly accrued bonus depending on the nature of death.

5. FARAJA BENEFIT

This is a funeral expense and permanent disability benefit offered to private account covering unforeseen events like Death and disability.

Scope of cover

  • Death of main member and spouse
  • Total permanent disability 

Benefit amount

  • 4,000,000 in case of death and permanent disability for both account holder and spouse on Personal Accounts
  • 4,000,000 in case of death and permanent disability for both account holder and spouse on Executive Accounts

All the benefits of Faraja to Private account holders are free of charge.