Health insurance product for low-income communities in Tanzania
Insurance services:At Sanlam Tanzania we offer a variety of affordable financial security to individuals, families and institutions. Package/Benefit:We offer personal and Institutional packages. Personal package under Life insurance can give you peace of mind that your family can take care of their needs and expenses if you pass away. This means your death will not place a financial burden on your loved ones. Funeral
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covergives your loved ones a dignified funeral without worrying about how you will pay for the expenses. Travel Insurance cover makes sure that you and your loved ones are covered while you travel. Disability covers you when you become disabled because of illness or injury and can no longer work and earn an income, disability cover gives you the assurance that you can still take care of your and your family’s expenses. Critical illness cover relieves the financial burden of living with a serious illness. Institutional package is divided into (i) Group endowment-Benefit Structure: Death Benefit Multiple of salary for member’s death (i.e. 1x, 2x, 3x annual salary as required) Normal Retirement Benefit a) Multiple of Salary b) Minimum year of service in order to qualify for the benefit c) Minimum age from which early retirement will be permitted Ill-Health/Permanent Disability Retirement Benefit a) Multiple of Salary b) Minimum year of service in order to qualify for the benefit Early Retirement Benefit a) Multiple of Salary b) Minimum years of service in order to qualify for the benefit c) Minimum age from which early retirement will be permitted Surrender Benefit a) Minimum year of service in order to qualify for the benefit b) % of contributions to be returned to member (ii) Group life assurance that offer: 1. Death Benefit – A lump sum amount equivalent to a multiple of salary assured on the policy will be paid to the organization for transmission to the deceased’s nominated beneficiaries, whose incident has occurred while in service. This life assurance policy will cover both death arising from natural causes, such as illness and accidents. Death arising
2. Permanent Total Disability Benefit – This section will cover permanent disability on a 24 hours worldwide basis, whether the injury is caused out of and in the course of employment or out of personal engagements subject to certain exceptions such as willful misconduct and
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related acts. The amount payable in respect of permanent total disability will be a lump sum amount equivalent to the death benefit. 3. Permanent Partial Disability – This refers to a situation where a member is not permanently and totally disabled, but has lost one of the limbs or organs permanently such as loss of an eye, ear, foot, etc. The amount payable will be a percentage of the permanent total disablement benefit, in accordance with the permanent partial disability scale. 4. Temporary Total Disability - This refers to total and absolute incapacity from following usual business or occupation for a period of over seven working days. The compensation specified for this section is weeks’ salary which will be payable for not more than the number of 52 or 104 weeks stated in the schedule and such payment shall cease as soon as the injury causing the incapacity has healed as far as is reasonably possible, notwithstanding that Permanent Disability may remain. 5. Critical Illness – The diseases covered under this benefit are cancer, heart attack, cerebrovascular incident (stroke) and major organ failure (kidney). The benefit under this extension pays an accelerated lump sum of 30% (thirty percent) of the sum assured under the basic life cover on this policy. Any claim that is paid out reduces the amount available for future claims. 6. Free Cover Limit (FCL) – Cover under this policy will be provided free of evidence of health with no HIV/Aids testing where the individual staff member’s sum assured is within the schemes FCL. A medical examination will only be needed for members having a sum assured or requiring cover beyond the FCL.
Insurance services:We provide high quality competitive customer focused insurance service to all persons, Corporate and unincorporated through innovative marketing, efficient and effective management of resources, thus optimizing stakeholder returns and increase the corporation’s share of the insurance market.
Motor Insurance
Cover Insurance legal liability in respect of bodily injury or death to Third Parties (with certain exceptions) arising out of the use of vehicles on Public road.
The motor covers provided includes:-
Comprehensive - It covers death or bodily injury to third party and property damage to third party. It covers accidentally own damage, theft and burning of the vehicle.
Third Party only - It covers death or bodily injury
Fire Insurance
We offer two types of covers:
Fire Standard Policy
Covers the perils of the fire even if it is not originated from the Insured premises. It can be extended to covers special Peril, riot, civil commotion, earthquake etc.
Domestic Package policy
Special tariff is special for householders and House owners on various fire and domestic risks. It provided cover for the building contents, all risks. Workmen etc.
Burglary Insurance
