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Taylor-made life insurance now available exclusively for farmers

Taylor-made life insurance now available exclusively for farmers

Agribank has just announced it is launching an in-house life insurance product for its clients to protect clients’ financial assets and estates in the events of death, disability, dread disease or even retrenchment.

The policy is underwritten by Momentum Metropolitan Namibian and comes into effect on 01 June 2024. As of 01 July, this policy will be mandatory for all eligible clients.

If clients opt not to sign up for this policy, the bank will force them to provide proof of sufficient life insurance from any other long-term insurer.

Branded “Credit Life Insurance”, the policy is intended to bolster financial security and to offer protection against unforeseen events. It is marketed exclusively to Agribank clients.

Agribank Chief Executive, Dr Raphael Karuaihe said “The introduction of the Credit Life Insurance is a significant step forward for Agribank. It supports the sustainability of our clients’ farming and agro-enterprise ventures by providing a financial safety net against unforeseen events. Furthermore, the initiative demonstrates Agribank’s dedication to offer innovative and affordable products and services.”

The bank said their Credit Life Insurance will cover the client’s loan installments for a specified period, providing essential financial relief during challenging times.


 

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