The People’s Micro Bank (PMB) has embarked on an innovative product to provide insurance to its customers.
Today it launched its “BEL ISI” Accidental Death Insurance Protection.
In partnership with Trans Pacific Insurance Ltd, BEL ISI is their answer to helping its customers get through the difficult times.
It is a life insurance product – but differs from other life insurance products due to the minimal costs involved.
To register for this service, you need to have an account with People’s Micro Bank.
This product is activated when you pay the initial premium, with the lowest premium being K20, which entitles you to a cover of K2,500.
According to PMB CEO, Anthony Dela Cruz, this product is an initiative to assist customers deal with the financial burden when death occurs.
“By paying a small annual fee of as low as K20, or as much as K400, the Beneficiaries of the insured person can receive a “BEL KOL” cash benefit of between K2,500 to as much as K50,000. This is intended to help alleviate the financial burden arising from the unfortunate incident of accidental death,” Dela Cruz told EMTV News.
The Micro Bank expects a significant number of its customers to sign up for this service, with the goal of making available to at least 100,000 customers within the next twelve months.