Bancassurance is defined as the selling of Banking and Insurance products through the same channel - most commonly through the Bank's branch network. Bank staff, rather than an Insurance salesperson, become the point of sale/point of contact for the customer but an insurance Company does the administration of policies. Bank Customers have the opportunity to take out Insurance products at the same time they are accessing banking products.
Advantages of insuring through Standard Bank Bancassurance
Motor vehicle comprehensive
This insurance provides cover for accidental loss or damage to the insured vehicle, including fire and theft, plus legal liability to third parties
Vehicle and asset loan protection plan
The insurance covers a vehicle or asset loan against the insured's death or permanent disability.
Home owners comprehensive cover
The policy covers the physical structure of the private residence and improvements of standard construction.
Home loan protection plan
The insurance covers a home loan borrower against death and permanent disability.
This product was designed to help our customers and their families with the costs associated with a funeral, in the event of their death.
Personal loan protection plan
The insurance covers a personal loan borrower against death and permanent disability.