Bancassurance | DTB Uganda

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Diamond Trust Bank Uganda Limited (DTBU) was licensed by the Insurance Regulatory Authority of Uganda to conduct Bancassurance business until 31st December 2021 (two years) this came after applying a renewal and submitting the regulatory requirements in August 2019. Our license N: BC/0001/2020. Please note that framed copies have been distributed to all branches for display.

DTBU was granted the go-ahead to do Bancassurance business with two life insurance companies (Jubilee Life & ICEA Life) and three non-life insurance companies ( JIC, Alliance Africa General Insurance company & MUA Insurance company ltd.)

We welcome you to contact us for the following Life Assurance products:

J Career Life ( Child Education Plan)

This helps to secure the education needs of your pre-identified daughter or son for a minimum period of 5 years subject to premium payments either monthly, quarterly, semiannually and annually. A maturity value shall be paid at the end of the policy tenure

J Fanaka

This is an investment plan which covers both protection and investment. Upon consistent premium payments for a period chosen by you, at maturity you will be paid benefits and bonuses accumulated

Jubilee Invest Plan

This is designed to provide you with an opportunity to build a fund as well as protect your loved ones in the event of eventuality. Therefore people who are more keen on return on investment compared to protection are advised to opt for this life assurance cover

Jubilee Money Back Plan

This is a life assurance plan where the sum assured is paid at certain intervals during the term of the policy, and the balance of the sum assured together with accrued bonuses are paid at maturity of the policy

Credit Life Assurance

This policy secures redemption of an outstanding loan amount and interest thereon in an event of death, disability and critical ailment of a borrower

Group Life Assurance

This policy secures death in service benefit for the employees. Thus once an employee dies while in service, the insurer has to pay a multiple of annual salary to the beneficiary through the employer

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Non Life Insurance

DTBU was granted the go-ahead to do Bancassurance business with two life insurance companies (Jubilee Life & ICEA Life) and three general insurance companies ( JIC, Alliance Africa General Insurance company & MUA Insurance company ltd.)

Our General Insurance products include:

Fire And Allied Perils Insurance

This would cover property owned, rented, and held in trust by you against loss or damage caused by fire and allied perils. The property covered would include:

Furniture, fixtures, and fittings
Buildings
Tools and spares
Stocks
Profits, salaries of permanent staff, auditor’s fees, interest on loans, rent and other costs which you may incur in case you wish to cover yourselves against loss of income following the fire incident

Burglary Insurance

Values of all movable assets such as stocks, furniture, tools, and spares. (declared value). Some items insured under this policy are such that it is not possible to envisage a total loss. In such a scenario, you can take out a first-loss policy where the sum insured is less than the total value at risk. This is the maximum amount that can be stolen at a single incident. Note that the value selected as the first loss sum will determine the maximum claim payable at a single time

Electronic Equipment

This covers any accidental loss or damage including losses arising from burglary, floods, earthquake, riot and strikes and electrical damage for all your electronic equipment like computers, printers, graphic machines, fax machines, scanner, etc which are used exclusively within your premises. The values of the items must be given to determine the premium

All Risks Insurance

This covers against accidental loss or damage including losses arising from fire, burglary, theft, flood, earthquake, riot and strikes on all valuable portable office items like laptops, cameras, and mobile phones which are not restricted to any premises

Money Insurance

The maximum value of money likely to be

Banked at any time
Withdrawn from the bank at any time
With authorized employees or directors
On your premises during working hours
In safe after working hours and
The estimated annual transits

Workers’ Compensation

The new workers’ compensation act provides that employers must provide compensation to employees’ injuries. The injury or disease must arise out of and in the course of employment. This policy, therefore, covers all employees regardless of position and salary Benefits as per the worker’s compensation act 2000, are summarised as below

Death – 60 months’ earnings
Permanent total disablement – 60 months’ earnings
Permanent partial disablement – percentages as set out in the act of 60 months’ earnings, depending on the level of incapacity
Temporary disablement – the actual amount awarded having taken into account the period of disablement and financial loss suffered
Medical expenses – actual and reasonably spent but limited to shs1m

With a list of all your employees, permanent and casual, showing their designations and salary, we would be in a position to quote for this risk

Public Liability Insurance

The anticipated maximum claim a third party may put to you in case he suffers from bodily injury and or property damage while within your premises, plus the aggregate per event, and within a year

Fidelity Guarantee

This covers against pecuniary loss to the insured caused by fraudulent acts of insured employees in connection with their occupation or duties. You are required to provide a list of employees handling money, their occupations, and the amount that each handles to enable us to make a quotation

Motor Insurance

Indemnify against accidental damage, fire, theft & legal liability to third parties arising out of use of the motor vehicles owned and/or operated by the insured

Group Personal Accident

Since the workers’ compensation policy covers employees only during and in the course of employment, it’s recommended that the insured in addition takes a group personal accident cover to cover employees while off duty I.E. During the night. The group personal accident policy indemnifies the insured against accidental bodily injury, resulting in disablement or death. It also provides for reimbursement of medical expenses related to the accident with agreed limits

Medical Insurance

Covers all employees for their medical needs as per various limits We hope you will find the above information sufficient, and that you will provide the values for the various items under the classes of insurance that you would wish to take

Goods In Transit

All risks’ of physical loss and/or damage to the whole or part of the property declared in the course of transit by the means of conveyance declared. Including loading and unloading risks

Marine Insurance

Indemnity against all risks of physical loss or damage to the insured property as per institute cargo clauses (a) including the risks of strikes, riots and civil commotion, subject to standard exclusions

Machinery Breakdown

To provide compensation in case of any unforeseen and sudden physical damage to the insured Machinery by any cause not specifically excluded under the policy

Professional Indemnity

To indemnify the insured against legal liability to pay damages for any omission, negligence or error committed by the insured employees of the insured in the course of their professional duties

Group Term Life Insurance

Your employees mean a lot to you. You want to protect them from any mishap whatsoever and show them that you care about their well–being. By investing in our employee protection solutions group term, you can give your employees total cover from accidents and disabilities for life. Provide your employees with security and a feeling of being part of a family—invest in employee protection solutions today!

Corporate Travel Insurance

With the emergence of global markets and increased integration of international resources, frequent global travel has become an integral part for executives of most of the corporate. Higher frequency of such travel also increases exposure to many risks. By means of extensive coverage and benefits, our travel insurance policy for corporate ensures that these perils do not come in the way your business few more policies may be specific to your requirement: