Protect you and your family’s financial future with a range of financial protection products.

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The benefits of insuring with us

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Immediate cash pay-outs for funeral expenses
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Prompt benefit payments
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Provides a safety net for your children's education
3 levels of coins
Flexible monthly contributions
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Credit Life Insurance

Credit Life Insurance, or credit insurance, covers your outstanding loan balances in the event of death, permanently disability or an inability to work. You will pay a once-off premium for the term of your loan.

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Embedded Funeral Cover

Our funeral expenses insurance cover comes embedded with selected current and savings accounts and pays a benefit upon the death of the account holder.

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Benefit structure
Type of account Age Funeral Cover
(for account holder only)
Instant Savings Account As required for account opening K4,000
Ultimate Account As required for account opening K4,000
Ultimate Plus Account As required for account opening K4,000
Prestige Current Account As required for account opening K12,000
Prestige Plus Account As required for account opening K12,000
Premier Current Accounts As required for account opening K20,000
Premier Plus Account As required for account opening K20,000
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Terms and conditions for Embedded Funeral Cover benefits
  • Entitlement to insurance cover is on the basis of one having any of the accounts listed above, and this will form the basis of the contract between the underwriter and the plan holder
  • The insurance company will pay on all accounts held by any one person upon their death
  • Membership ceases upon closure of an account
  • The minimum age at entry is the legal age required for one to open an account and there is no maximum age
  • All references to age mean the actual age reached
  • No medical underwriting requirements will apply to any applicant under the policy
  • This insurance cover will be for account holders only and cannot be extended to family members
  • The underwriter will not accept or pay any claim for benefits under the policy if any person whom the policy covers, commits suicide within 2 (two) years of the starting or restarting date of the plan
  • The underwriter will not consider any claim if the cause of death, of any life insured under the plan, is as a result of that life insured having violated the criminal law of Zambia

Umoyo Family Protection Policy

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Retrenchment Cover

All customers with a Premier Plus, Prestige Plus or Ultimate account will benefit from this cover.

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Retrenchment Cover

Retrenchment is defined as the termination of the account holder’s full-time, permanent employment contract (or a fixed-term employment, with a minimum term of two years) with the employer due to any of the following:

  • Change of business conditions of the employer that results in the loss of full-time permanent employees
  • Introduction of new technology
  • Reorganisation of the employer’s business
  • Company closure
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Compare insurance benefits

The enhanced Premier offering comes with embedded insurance benefits for all Premier and Prestige current account holders. These insurance benefits are Travel Insurance, Hospitalisation Cash Plan, Embedded Funeral expenses insurance and Retrenchment cover. Below is the table of benefits.

NB: Embedded insurance benefits on this segment were introduced in March 2010 and claims arising before this date are not payable. Note also that claims are only payable on accounts that have not missed membership fees for three consecutive months.
 

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Compare the benefits
Insurance benefit Premier Prestige
 
Funeral Insurance
No extra fee
Scope of cover:

- A lump sum amount is payable to the next of kin within 48 hours of notification of death of account holder

Benefits:

- Account holder: K20,000
Scope of cover:

- A lump sum amount is payable to the next of kin within 48 hours of notification of death of account holder

Benefits:

- Account holder: K12,000
Travel Insurance Cover
No extra fee

Scope of cover:

- A customer is entitled to various covers during their travels outside the country
- It covers various areas such as medical bills, loss of luggage, legal advice and death, etc.

Benefits:

- 24/7 and whole year cover
- Medical expenses – up to $45,000
- No need for additional insurance for Visa application
- Follow up treatment in country of residence – $1,500
- Repatriation of mortal remains/burial expenses – $6,000
- Accompanying family member – $1,000
- Premature return due to death or imminent death of relative or business associate – $1,500
- Legal assistance – $500
- Loss/Theft of luggage – $500

Scope of cover:

- A customer is entitled to various covers during their travels outside the country
- It covers various areas such as medical bills, loss of luggage, legal advice and death, etc.

Benefits:

- Medical expenses – up to $45,000
- Medical evacuation – $6,000
- Follow up treatment in country of residence – $1,500
- Repatriation of mortal remains/burial expenses – $6,000
- Accompanying family member – $1,000
- Premature return due to death or imminent death of  relative or business associate – $1,500
- Legal assistance – $500
- Loss/Theft of luggage – $500
Hospital Cash Plan
No extra fee
Scope of cover:

- This policy will provide cash benefit in the event a member being confined to a hospital

Benefits:


- Cash Benefit – K350 per day
- Benefits are payable to members only or their legal representatives and not extended to other family members
- Benefit payable for a minimum of 4 days and maximum of 180 days
Scope of cover:

- This policy will provide cash benefit in the event a member being confined to a hospital

Benefits:


- Cash Benefit – K250 per day
- Benefits are payable to members only or their legal representatives and not extended to other family members
- Benefit payable for a minimum of 4 days and maximum of 180 days
Retrenchment Cover
No extra fee
Scope of cover:

- This policy will provide cash benefit in the event that a member gets retrenched

Benefits:


- Cash Benefit – K30,000
- Benefits are payable to members only or their legal representatives
- Benefits are payable over a period of six months
Scope of cover:

- This policy will provide cash benefit in the event that a member gets retrenched

Benefits:


- Cash Benefit – K15,000
- Benefits are payable to members only or their legal representatives
- Benefits are payable over a period of six months
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Need more help?

Call:

Toll free: 5950
Tel: +260 (211) 366100
Tel: +260 (211) 366225

Email:

customerservice.zambia@barclays.com

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