Claim Procedures

On borrower’s Death, Permanent Total Disability or Critical Illness, the claim shall become payable to the Bank. The required documents depend on nature of claim and include:

• Duly completed claim form
• In respect of permanent disability and critical illness, medical report from attending doctor
• In case of retrenchment, letter from employer advising on retrenchment
• In case of death, beneficiaries will present original Death Certificate and certified true copy of Burial Permit
• Borrower’s Loan Repayment Statement from inception
• Identification Document or Letter of Surrender of ID

MORTGAGE PROTECTION CLAIMS PROCESS AND DOCUMENTATION

Documents required from

The insured

• Copy of customer’s death certificate duly certified as a true copy of the original by the Lending Institution’s Branch Manager (To bear bank or financial institution stamp).
• Certified copy of burial permit.
• Copies of loan applications and authorization forms which were signed by the deceased customer.
• Copy of the letter of offer also signed by the deceased customer
• Copy of the deceased’s loan statement printed on the official bank statement print paper.
• Copy of the deceased’s national ID card.
• Police abstract incase death caused by accident or Murder, sudden or arson In case of permanent disability or critical illness medical report from attending doctor should be presented
• In case of retrenchment, letter from employer advising on the decision to retrench

Note that, the copy documents above must be duly certified by the Authorized Bank signatories. At least two should sign.

What will the Insurance Company provide?

• Discharge voucher
• Bank Transfer Confirmation slip i.e. RTGS or SWIFT