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Protect your and your family’s future with a range of financial protection products.
Credit life insurance covers your outstanding loan balances in the event of death, permanent disability or an inability to work. You will pay a one-off premium for the term of your loan.
Our funeral expenses insurance cover comes embedded with selected current and savings accounts and pays a benefit upon the death of the account holder.
All customers with a Premier Plus, Prestige Plus or Ultimate account will benefit from this cover.
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 that date are not payable. Note also that claims are only payable on accounts that have not missed membership fees for three consecutive months.
| 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: |
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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Absa Bank Zambia PLC. Registered in Zambia (registered number 119710006444). Registered office: Stand numbers 4643 and 4644 Elunda Office Park, Addis Ababa Round About, Lusaka, Zambia. Absa Bank Zambia PLC is regulated by Bank of Zambia under licence No. BL002/1918B.
