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Changes (like adding items, updating contacts, or switching covers) can be done by:
Yes. A policy can be cancelled by giving instructions to SBM Bancassurance in writing / via email to bancassurance@sbmbank.co.ke, and surrender the following documents: insurance certificate in case of motor insurance and policy document in case of life assurance cover
A claim can be lodged by contacting SBM Bancassurance via the email address bancassurance@sbmbank.co.ke and providing the circumstances of loss including the date. Once a claim is lodged, it is assessed, and the requirements (if any) are communicated to the customer in writing. Once all necessary requirements are fulfilled, the claim is settled in accordance with the terms and conditions mentioned in the policy documents.
This is a policy that pays off your loan or credit card balance in the event of:
It protects your family from inheriting debt and is often a requirement for bank-financed loans.
Sometimes. If your sum assured crosses a set limit, the insurer may request medical tests. Costs are often covered by the insurance company and carried out at approved medical centers.
If a premium isn't paid by the due date, the policy may lapse. For financed assets, the bank may arrange insurance cover and debit your account to protect its interest. You can reinstate the policy by paying the pending amount and submitting a reinstatement request.
Notify us in writing. The policy can be canceled, and you may receive a pro-rated refund if no claims were made.
The claim is settled in accordance with the terms and conditions mentioned in the policy documents.