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Bancassurance

Get your insurance where
you keep your money!

We understand that that in life, there is a need to guard against the risk of uncertainty. It is for this very reason that Centenary Bank in collaboration with reputable Insurance service partners offers you the opportunity to access a variety of insurance covers and advisory services at any of our branches countrywide, through our Bancassurance service.

Benefits of Insurance

The human life and business environment are both characterized by risk and uncertainty; therefore, Insurance plays a key role in mitigating such risks. Below are some specific benefits.

  • Insurance provides security against risk and uncertainty
  • The insured enjoys peace of mind without fear of loss due to risk and uncertainty
  • It inculcates regular savings habit, for the case of life insurance
  • In case of financial requirements, the insurance policy may be mortgaged to raise funds
  • Insurance policies such as pension plans provide income security during old age

Why choose Our Bank as your preferred Insurance Agent?

  • Convenient access to a one-stop-shop, where banking and insurance services are provided under one roof.
  • Opportunity to access customized and affordable insurance products.
  • Get insured by trusted and reputable insurance service providers given the rigorous process we go through to vet insurance partners.
  • Enjoy competitive premium quotations for insurance covers.
  • Guaranteed professional insurance advise from our well qualified staff to assist you in selecting the most suitable cover.
  • Quick turn around time for signup and claims processing.
  • Flexible premium payment plan.

Our Insurance covers are grouped into two broad categories i.e. Life and Non-life Insurance covers. Here are the available Insurance covers/ products under each category;

Life Insurance:

Is a contract between an insurance policy holder/life assured and an insurer/assurer, where the assurer promises to pay a designated beneficiary a sum of money upon the demise of an assured person. Depending on the contract, cover can extend to include terminal illness or critical illness and or funeral expenses. The policy holder pays a premium, either regularly or lumpsum.

Individual Life Insurance:

Is a policy that is solicited and paid for by one person and covers a single person. This insurance intends to meet the financial needs of a surviving spouse or family members in the event of the insured’s demise or disability. Covers include the following;

Child Education Insurance:

Nothing is more important than securing your child’s future. A child’s education plan is designed to help children to follow their educational pursuits. These plans come with a life insurance cover and opportunities to maximize savings on the payment of premium. The lump-sum amount at the end of the policy term ensures that neither you or your kids struggle for funds to finance higher education.

Savings Insurance:

This is an insurance plan that combines a savings and a life cover under a single plan. The premium payments are divided into two where one portion is used to build a savings corpus, while the other portion is used for providing life cover to the policyholder and their family.

Funeral Insurance:

This plan that takes care of the last funeral expenses of the insured. Should death occur, the policy will be triggered to take care of all the expenses including embalming, coffin, repatriation, and grave construction, to guarantee a dignified and stress-free sendoff of the dear ones.

Family Protection Insurance:

This is a unique renewable term life assurance policy crafted to provide peace of mind and cash benefits to the families of breadwinners and their spouses against death and total and permanent disability.

Medical Insurance:

This covers the cost of an insured individual’s medical and surgical expenses. It caters for both outpatients and inpatients for any illnesses be they natural illnesses of accident related and includes major and minor surgeries.

Group Life Insurance: This carters for entities/ organizations and their staff members

Group Funeral cover plan:

Is an affordable way to ensure that employees and their families will not be stressed during their time of difficulty and need after losing a dear one. All funeral expenses are catered for, including coffin, embalming, transportation of the remains and immediate family members, grave digging and construction, together with radio and TV announcements.

Group Medical/health insurance plan:

This plan provides medical coverage for a group of people. It is suitably secured by organizations to cater for their staff and families. It caters for both outpatients and in-patients, antenatal, optical and dental alongside major and minor operations.

Non-Life Insurance Covers:

Motor comprehensive insurance:

Covers partial material damage or total loss of the vehicle, due to accident, theft and/or malicious damage, with extension for windscreen damage and thirdparty liability

Fire Insurance:

Protection against fortuitous damage or destruction of buildings due to fire and perils, like floods, earthquake, malicious damage, hurricane and/or tempest.

Domestic packages (House and Homeowners’ polices):

To cover private residential dwellings and household contents against accidental damage or destruction, burglary and or malicious damage

Individual Personal Accident cover:

Covers an insured individual for accidents whilst anywhere in the world on a 24-hour basis. Claims may be triggered due permanent total disability and or burial expenses after death arising out of any nature of accidents.

Group Personal Accident cover:

Covers a group of employees for accidental injuries and/or death whilst anywhere in the world on a 24-hour basis. It offers comprehensive financial protection against hefty expenses incurred due to the disablement of the insured in accordance with the terms mentioned in the policy. General benefits include but not limited to accidental death, medical expenses incurred due to accidents, permanent total disability and permanent partial disability arising from accidents.

Workers’ compensation:

This is the insurance derived from the Workers’ Act 2000, which requires all employers to arrange insurance for their employees for injuries, illnesses and or deaths that they may incur whilst at work, or to and/or from work to their usual places of aboard.

SME Insurance:

The cover is comprehensively packaged under one policy to take care of the SME business combined risks like fire and special perils, burglary, public liability, workers’ compensation, money, and any other associated risks.

Travel Insurance:

Covers the insured whilst on any international business or leisure trip, anywhere in the world. The policy extends to include emergency medical, accidental injuries, repatriation, travel delay, baggage delay and/or loss, trip cancellation and or curtailment, hijack, liability, and travel documents loss.

Wallet Guard:

The insurance provides replacement of lost or damaged valuable customer items, whilst in the wallet, handbag, or purse arising from theft. Contents to be replaced include National ID, Bank ATM and Debit/Credit cards, Employment Card, Medical Card and phone sim cards. Cover extends to medical bills in case of injuries due to assault and police report while processing the claim.

ATM Assault:

This is a cover that extends to replace the insured’s lost cash whilst using the ATM facility or immediately after using it. Coverage shall also include medical expenses that may be incurred due to an assault when attacked to steal the cash. Cash replacement is limited to the amount withdrawn at the time of the incident.

Check out the list of our current Insurance Partners

Non-Life Insurance Providers

  • PAX Insurance
  • SWICO
  • Jubilee GI
  • UAP OM GI
  • CIC Africa GI
  • MUA
  • Sanlam
  • NIC
  • Excel
  • Britam
  • ICEA
  • Gold Star
  • Trans Africa
  • AAR

Life Insurance Providers

  • Liberty
  • Prudential Assurance
  • Jubilee Life
  • UAP OM Life
  • CIC Africa Life
  • ICEA Life

Microinsurance Providers

  • Grand Microinsurance
  • Edge Microinsurance

Get insured Today at any of
our branches countrywide.

The service is available for both existing and non-Centenary Bank customers.
For further inquiry email us at info@centenarybank.co.ug or call our
toll-free line; 0800200555 (MTN) and 0800335344 (AIRTEL)


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