Stanbic to provide life insurance cover
Stanbic Bank has introduced life insurance for savings accounts, a statement has said.
By Vision Reporter
Stanbic Bank has introduced life insurance for savings accounts, a statement has said.
The statement, which was signed by the bank’s communications manager, Daniel Nsibambi, said the insurance cover would double the balance on the savings accounts if a customer dies.
According to the statement, the minimum pay-out would be sh335,000 and the maximum sh20m on top of the existing balances on the accounts.
The insurance policy covers all customers regardless of the cause of death.
Existing and new customers between 18 and 65 years qualify for the new insurance cover, which became effective this month.
“The main objective of the insurance benefit is to add value to the savings account and encourage our customers to increase savings,†the statement said.
Ends
Stanbic Bank has introduced life insurance for savings accounts, a statement has said.
The statement, which was signed by the bank’s communications manager, Daniel Nsibambi, said the insurance cover would double the balance on the savings accounts if a customer dies.
According to the statement, the minimum pay-out would be sh335,000 and the maximum sh20m on top of the existing balances on the accounts.
The insurance policy covers all customers regardless of the cause of death.
Existing and new customers between 18 and 65 years qualify for the new insurance cover, which became effective this month.
“The main objective of the insurance benefit is to add value to the savings account and encourage our customers to increase savings,†the statement said.
Ends