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This is a policy that protects the Loan book of the lending institution. Under this scheme, Prudential covers the life of the borrower in that should he/she pass on from an Accident or natural cause, Prudential pays the entire outstanding loan balance plus interest as of that time.

  • Credit Assurance Brochure
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Plan Overview

  • Credit life is a form of short-term protection that covers the loan payment of the policyholder/borrower in the event of their death or permanent disability.
  • The policy pays off the outstanding loan balance(including interest) in the event of a claim, thereby saving the family from the burden of repaying the loan.
  • This policy can be customized to include funeral expenses and retrenchment cover.

Key features of – Credit Assurance

  • The policy is between lending institution and Prudential
  • The policy would apply to all borrowers of Banks or Saccos
  • Members who borrow above a given threshold undergo medical examinations paid for by Prudential
  • Premium charged is a percentage of the amount of loan taken out

Cover Requirements

For Principal

  • National ID
  • Application form provided by the lending institution

Credit Assurance Benefits

Loan Book Protection

The Lending Institution’s Loan book is protected from default arising from the insured events.

Asset Protection

Protects assets from repossession by the lending Financial Institution

Funeral Death Benefits

The borrower’s family is supported with last funeral expenses in case of his/her death.

Peace Of Mind

Peace of mind for both Financial Institution and borrower

Retrenchment Benefit

If option is selected, the bank will receive loan installment payments up to a maximum of 12 installments from the date the borrower get retrenched.

Good Lending Reputation

A good reputation for the lending Institution

General Life Insurance Frequently Asked Questions

 
As an employer you want your employees to feel secure. Financial insecurity is often a cause for stress and distraction which can impact your employees’ focus at work.

Group life insurance can give your employees the financial security they need.
As an employer it is important to consider how you might deal with the death of an employee and how you would support the bereaved family. Being able to be there for your employees and your employee’s family in their time of need is the right thing to do.
 
Provided all the claim requirements are received, the claim will be paid within 5 working days from date of receipt of the final document. The only reason it would take longer is non receipt of the necessary documents.
Clients Feedback

Our Clients Reviews

Thank you, Prudential, for your promptness on the Toll-free line and the WhatsApp group. Martha, Ritah and Elliot, thanks for the super work that you do.

    Immaculate Gonza.

    Centenary Bank.

    Am a service provider and I have worked with so many Insurance companies but by far “The Pru”, has proved to be very prompt when it comes to payment.

      Joel Oroni.

      IMC General Manager.

      Thank you Ritah for your kindness. You really helped me when I was stuck at Doctor's hospital Sseguku. May God reward you abundantly.

        Jacenta Ashaba

        Centenary Bank.

        Thank you Ritah! Thank you that you do not use automated machines, but we get to speak to people like you. We appreciate Prudential, you guys have come into the market with your new thing and it is good. Medical wise we are happy with Prudential!

          Julius Lubega.

          Centenary Bank

          Thank you, Prudential, for the birthday message, I also received messages for my dependants.

            Gertrude Nahabwa

            Centenary Bank

            Give Us A Call

            0800-200-052

            Send Us A Message

            customercare@prudential.ug

            Office Location

            10th Floor, Zebra Plaza, Plot 23 Kampala Road, Kampala

            Prudential Uganda is regulated by the Insurance Regulatory Authority of Uganda, whose main responsibility among others, is to ensure that insurance companies honour claims. Furthermore, Prudential Uganda is a subsidiary of Prudential plc, UK, a company that has been honouring claims for over 175 years.

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