Faqs

FAQs

Claim Section

The insured under Individual Life should submit claim form, death certificate, burial permit, copy of ID and original policy document.

The insured under Group Life should submit death claim form, death certificate, burial permit, copy of last salary slip, and Police report in case it was an accidental death. The submission of a policy document is not required.

The insured under Group credit should submit death claim form, death certificate, burial permit, loan application form or Loan contract, repayment schedule or loan statement, copy of ID and Police report in case it was an accidental death. The submission of a policy document is not required.

In the event of any claim, kindly notify Jubilee Life Insurance Team immediately and provide us with full information as soon as possible. (my suggestion kindly share an inquiry email it will make sense)

To enable us to meet our obligations under the policy to you and your loved ones, a refund of premium is only available within the ‘Free Look Period’ defined above.
A refund of premium cannot be processed after expiry of the 30 days Free Look Period.

10 working days after complete submission of the required documents.

Payments Section

Based on your circumstances and convenience, you may pay your contributions by cheque, banker’s standing order, salary stop order or cash. You may contribute at your own pace whether it is monthly, quarterly, half-yearly or even annually.

You can contribute any amount you feel comfortable with.

Being a long-term savings plan, automation of payments through direct debit, standing order and use of the employer check off facility is most suitable to your policy. All payments should be in favor of Jubilee Insurance Company Limited.
Please note that Jubilee Life Insurance Corporation of Tanzania Limited does not allow agents or staff to collect cash on its behalf for payment of premium. Cash deposits may be made to the following bank account: Account Name:  Jubilee Life Insurance Corporation of Tanzania Limited Bank Name: Diamond Trust Bank Limited Account Number: 0030492002 Branch: Mosque Main Branch Swift Code: DTKETZTZ. Please note to quote your policy number as a reference for any payments made.

Payment should be made directly to Jubilee Insurance by the following means only:

  1. Cheque made out to The Jubilee Life Insurance Company of Tanzania Ltd
  2. Mobile Money Transfers
  3. Direct deposit to the Jubilee Insurance bank account
    Ensure that you get an official Jubilee Life Insurance receipt for all payments made as above. Do not make any cash payments to any individuals

Sales Section

You can pay in installments through the Bank Monthly, Quarterly and Annually.

Your policy is used as the security against the loan but if the outstanding loan plus interest is not paid on the agreed period it will reduce benefit at maturity.

To join the PPP, complete the simple PPP Application Form and forward it to Jubilee together with a copy of your national identity card/passport and the first contribution.

Non – payment of premium will cause the policy to lose its value, and to automatically terminate without any future benefits payable.
It is important to ensure that you have set up reliable methods of making your premium payments, as you will suffer considerable loss in case you do not pay your premium

If provided for in your contract, you can access a loan from your policy after the policy has been in force for a period of 3 years or 5 years depending on the type of product selected. The loan amount is 90% of the policy surrender value.
It is important to note that an interest is charged on the outstanding loan. Kindly repay the outstanding loan as soon as possible to avoid accumulation of interest.

The surrender value of the policy will be determined by the number of years your policy has been in force, in comparison to the expected number of years the policy was expected to run. Factors such as the policy sum assured and your age and will play a part in determining the surrender value of your policy.
It is important to note that the surrender value does not equal a refund of all premiums paid.

If provided for in your contract, your policy builds its surrender value over a period of time, with a minimum in force period of 3 years or 5 years depending on the type of product selected.

The ‘Free Look period’ is a period within 30 days from which the company has dispatched the policy document to the policy owner’s last known address. This period allows the policy owner to read through the policy terms and conditions and the policy owner may, in writing, request for a change on the policy, and if not satisfied with the policy terms, may in writing apply for a refund of all premiums paid, less any expenses the company may have incurred.
Correspondence should be delivered to the Manager, Client Services, Jubilee Insurance Head Quarters Ohio Street or email life@jubileetanzania.com

Refund applies if the cancellation happens within 30 days of policy inception and no claim incurred inclusive of any charges.