How to Register Nmb Insurance Plan for Private schemes

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  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.

  1. Home insurance

How to Register Nmb Insurance Plan for Private schemes

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
  1. 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

 

  1. 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.
  1. 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

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.

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