Long Term Insurance
The Ethiopian Insurance Corporation renders more than 15 types of polices in the life Insurance Sector. Life insurance policies can be bought individually and in-group, which enable the insured to get various benefits. The benefit gained from these insurance policies depends on the choice of the customers.
The different types of life insurance policies the corporation provides are:
Endowment (Ordinary endowment, Anticipated Endowment Policy with profit, children%u2019s Education policy with profit, Annuity etc.)
Term (Individual Term life Assurance, Group and Modified Large groups Term Life Assurance, Individual and Group Mortgage Protection Assurance etc)
Whole Life Assurance.
Medical Assurance (Individual medical Assurance, Group Medical Assurance, Executive Medical Assurance & Travel Health Assurance) are among the major ones.
The Corporation also prepares and provides policies, which go along with the social and economic standard of the society. In this aspect, the pre-funeral expense insurance can be cited as a good example. More…
The Ethiopian Insurance Corporation provides more than 30 types of non life Insurance policies. Non life insurance policies are used to cover property and liability risks. The Corporation revises its policies regularly and produces new policies based on the country’s current economic development and the demand of customers.
For instance, currently it has prepared new insurance polices like Floriculture, Condominium, Tea and coffee, Weather Indexed Crop Insurance, Warehouse Operators Liability Insurance. The major property and liability insurance services given by the Corporation are all risks, Aviation (Cargo and Hull), Bankers Blanket Policy, Burglary and House Breaking, Bonds, Condominium, Consequential loss, Crop Insurance, Engineering, Fidelity Guarantee, Fire and Lightning, Goods in transit, Inland Carriers liability, livestock, Marine (Cargo and Hull); money, motor, personal/Group Personal accident, Plate glass, Product Liability, Professional Indemnity, Public Liability, Workmen’s Compensation and the like. More…