Long Trem Insurance
Life assurance coverage is often referred to as long-term insurance because it provides protection over an extended period. Under our long-term insurance offerings, we provide:
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- Life Insurance
- Health (Medical Expense) Insurance and
- World Wide Travel Insurance.
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Life Assurance
With our Life insurance policies, you can ensure that your loved ones are safeguarded against life’s uncertainties, helping to cover expenses and maintain stability during challenging times.
We offer a range of life insurance products and supplementary contracts (riders) that provide comprehensive coverage, including:
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- Financial security in the event of death,
- Protection against disability
- Coverage for critical illness.
- Compensation for loss of income due to disability
Life Insurance:
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- Term life insurance
- Endowment life insurances
- Pre-Need funeral insurance
This is type of life insurance that provides coverage to pay a death benefit if the insured dies during the term of the policy.
Types of term life insurance:
- Yearly Renewable Group term insurance
- Modified Group Term Insurance
- Individual Term life insurance
- Mortgage Protection Assurance:
Mortgage protection insurance is an insurance policy that pays off the outstanding loan balance of your mortgage if you pass away or if you become permanently disabled.
Health (Medical Expense) Insurance
The objective of a health insurance policy is to cover medical expenses arising from illness or accidental injury. This coverage can be provided to individuals, families, or groups.
- Credit arrangement with over 15 well-known hospitals and pharmacies for direct medical claim settlement
- Reimbursement of medical expenses outside our credit arrangement, paid directly to your bank account
- Cash payment upon presentation of medical bills at our offices.
World Wide Travel Insurance.
It provides cover in the event of a sudden and unexpected sickness or accident and losses when the insured traveled outside the territory of Ethiopia.
Travel insurance coverage includes range of benefits:
- Death,
- Personal Accident,
- Emergency Medical Expenses And Emergency Medical Evacuation,
- Loss Or Delay Of Checked Baggage,
- Personal Liability,
- Hi-Jack,
- Emergency Return Home Following Death Of A Close Family Member,
- Delivery Of Medicine,
- Relay Of Urgent Messages,
- Long Distance Medical Information Service,
- Medical Referral/ Appointment Of Local Medical Specialist,
- Catastrophe,
- Loss Of Passport,
- Travel Delay,
- Missed Departure,
- Advance Of Bail Bond,
- Legal Expense And Extension Cover (Terrorism )Cover)
Riders (Supplementary Contracts)
Riders are additional coverages that can be issued alongside a life insurance policy to broaden the range of protection.
1. Comprehensive Accident Insurance (CAI)
It is a supplemental insurance cover to life insurance that covers death, disability and loss of time that arise due to accident.
Covered risks:
- Accidental death (Double indemnify)
- Disability
- Loss of Time
2. Wavier of Premium (WP)
The WP contract provides protection against the possibility that prolonged disability of the insured due to accident or sickness might prevent him from continuing to make his premium payments.
Benefit of the cover:
Premiums are waived as long as the disability continues.
3. Terminal/Critical Illness (TI)
This is a supplemental insurance cover to life insurance that provides covers if the life assureds suffer or diagnosis of from certain specified diseases or terminal illness like cancer, stroke, coronary heart diseases, major organ transplant, total renal failure, paraplegia, blindness, organ transplant, major burns and coma.