Microinsurance is a type of insurance that offers highly specified policies to cover specific needs at an affordable rate. It is designed to make essential insurance options more available to low-income people around the world. Microinsurance can apply to almost any kind of insurance product. Basically, most things that can be insured can be insured on a small scale or “micro” level
In Nigeria, you can get microinsurance with lower premiums as compared to traditional insurance products in the market with a maximum sum assured for 2milloin naira. However, take note that the coverage value is also lower than regular insurance plans.
Currently, CreditStar microinsurance company is at 3 Tina Chris Street Ejigbo Isolo-Lagos, Nigeria
- Chat us on +234 818 166 7662 or via our website
- Our working hours is from 9am to 5pm Monday to Friday
CreditStar microinsurance company has planned to settle the claims online within 48 hours of the request provided that the claims documentation is duly submitted.
If you have to file a claim, here are the steps you will need to take along with some helpful tips on submitting your insurance claim form. To complete the steps,
- Insurers will often let you fill out claims forms and submit them online at their websites.
- Some might specify claims team email addresses for you to get in touch with.
- By phone. You can call your insurer to make a claim, or to inform them that something has happened and you will be making a claim.
Always provide the insurance claims person any information they require to make sure the claim moves quickly. The more information they have about the accident, the better they will be able to help you and avoid delays. The claims professional is there to answer any questions, including when your payment will be made and what to expect.
You can manually renew the policy online or with an agent (credit officer).
If you want to renew your policy, you can speak to your credit officer or you can renew it yourself by logging in to Your Insurance Account. Once logged in, select the policy you wish to renew Click 'View renewal' from the front page of your policy Please check all the information is up to date, as any errors could leave you uninsured
You can buy a life insurance policy on a family member, spouse, children, romantic partner or business partner, for instance. But you can’t buy a life insurance policy on a mere acquaintance or stranger. And you can’t secretly buy a life insurance policy on someone else — at least not without committing forgery and risking jail time.
Yes, Insurance is all about affordability.
it’s legal — and common — to own multiple life insurance policies. Life insurance is flexible, and many people invest in policies with different term lengths and coverage amounts as their needs change
The savings account withdrawal limit is no more than six per month, but there are exceptions.
Just as there may be rules when it comes to depositing a large amount of funds (NGN2,000,000.00), the same is true when it comes to making withdrawals (account balance as at the point of request). Withdrawing NGN 10,000, for example, isn’t the same as taking out just NGN 100
To withdraw money from your saving
Traditionally, you will need to send a request to your credit officer or visit our office or put a call in to any of our representative to provide an easy option to make the process convenient for you
The maximum deposit limit is NGN 2,000,000.00). Just as there may be rules when it comes to depositing a large amount of funds for micro insurance transactions.
There’s no fee for making deposits through the ATM or through a credit officer.
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed.
The interest rate to be applied on the ESUSU savings account is the prevailing bank rate as at the period of withdrawal
The short answer is yes, as many as you want. As such there is no cap on it. One can have as many accounts
- ASSET LOAN PROTECTION PLAN
- CREDIT LIFE PLUS FUNERAL PLAN
- ESUSU PLUS LIFE COVER
- GROUP PERSONAL ACCIDENT
- INSTANT PLAN SCHEME
Minimum Initial Deposit is simply the minimum amount of money required to open an account with CreditStar Microinsurance company.
This is 1,000 monthly for the savings account (ESUSU plus Life cover) The minimum deposit amount is the initial investment amount that grows over time.