Bancassurance | Summit Bank

Bancassurance

“Bancassurance” is the distribution of insurance products by banks, through their own distribution channels.

We are proud to offer Bancassurance products to our valued clients through affiliations with leading Insurance companies. The unique products are designed to address a variety of our customer’s needs.

Our clients can choose from the following products, which the insurance companies are offering:

  • IGI
    • The Graduate Plan
    • The Wedding Planner
    • Golden Age Plan
    • Goals

    The following Optional Rider(s) can be attached with these products to enhance the coverage level on payment of additional premium*:

    Accident Care Benefit (ACB): It would provide an additional lump sum in case of death or disability due to accident. This rider would also provide cover in case of dismemberment due to accident.

    Income Benefit Rider (IBR): It would pay a monthly income benefit in the event of permanent & total disability of the insured.

    Family Protection Rider (FPR): It would pay all due basic premiums, from the date of permanent and total disability of the insured to the end of the FPR term.

    Level Term Insurance Rider: It would pay an additional lump sum in case of death of the insured due to accident or sickness.

    *The riders may terminate before policy maturity date depending upon the
    term available

  • Jubilee Life Ltd.
    • Suhana Kal
    • Sunehra Aghaz

    The following Optional Rider(s) can be attached with these products to enhance the coverage level on payment of additional premium*:

    Accidental Death Benefit: To provide extra protection against accidental death, an additional amount will be paid under this benefit if death occurs due to an accident.

    Waiver of Premium: If the Life Insured suffers an illness or disability and is not able to follow his/her own occupation or any other occupation suited by knowledge, training or education for at least six months ,then the premium from the next premium due date will be paid until recovery.

    Critical Illness: Advances the benefit payable on death in case the insured is diagnosed as having one of the specified critical illnesses.

    Hospitalization Cash Rider: A daily benefit is paid if the insured is confined to a hospital. The benefit is doubled in case of hospitalization due to any of the specified critical illnesses. In case of confinement to ICU, additional 50% benefit will be payable. Spouse and children can also be covered under this benefit.

    *The riders may terminate before policy maturity date depending upon the
    term available

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Last Updated 2017-04-17


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