|Questions / Answers|
| What is Insurance? En savoir plus
It is a contract where by an insurer agrees in consideration of money paid to him, called premium, by a person called the insured, to indemnify the insured against losses he (insured) would incur on the happenings of certain events.
| Who is an Insured? En savoir plus
A person/institution who/that holds an insurance cover.
| Who is a Third Party? En savoir plus
A third party is anybody other than the parties (Insured and Insurer) to the Insurance contract.
| What is an Insurance Policy? En savoir plus
It is a legal document which specifies the details of the insurance agreement. In it the type of cover, period, terms and conditions are specified clearly. It is an evidence of the insurance contract.
| What is Indemnity?En savoir plus
It is the financial compensation that is adequate to put an insured in the same financial position after a loss as he/she was before the accident. Insurers in order to indemnify an insured may option to pay cash, repair, replace or reinstate damaged property.
| What is a Peril? En savoir plus
It is that which gives rise to a loss e.g. fire, flood, earthquake.
| Who needs insurance and When? En savoir plus
Everybody needs insurance. In all aspects of our daily life, at home, at work, on the street etc. we encounter risks of all kinds. Insurance exists to cushion us against the financial burden that would arise should a mishap occur. You can have cover for yourself, family, buildings, offices, premises, vehicles, moveable and unmovable properties.
| What are the types of Insurances available? En savoir plus
SAHAM provides a very comprehensive range of insurance services.
| How do I Select an Insurance cover?En savoir plus
Selecting an appropriate insurance cover for yourself, property or business requires professional advice. This is so because there are various policies that provide cover in various ways. We recommend that you talk to us before making your decision. You may also contact your Insurance Broker or any of our registered Agents or Sales Representatives.
| What are General Businesses? En savoir plus
They are non-life products, i.e. motor, fire, accident, engineering, bonds, marine and aviation. These policies are mostly annual policies.
| What is an Excess? En savoir plus
The first part of a claim which the insured is expected to bear. It is usually a fixed amount or a fixed percentage of a claim.
| What is a Deductible? En savoir plus
It is normally a large excess. The insured cannot claim loss amounts which fall within the deductible.
| What is Liability? En savoir plus
The state of being legally responsible for something e.g. responsibility for damage caused to other people’s property or injury to their bodies. These are the liabilities transferred by insureds to their insurers.
| What is Permanent total disablement? En savoir plus
It is a state where an insured as a result of an injury becomes permanently disabled from pursuing his/her occupation.
| What should be your life insurance cover amount?En savoir plus
To us, the determination of your cover amount is not arbitrary. We need to know your monthly income, which will help us to establish your annual income. You cover amount is based on multiples of your annual income.
| What is a premium? En savoir plus
Financial cost of obtaining an insurance cover, paid as a lump sum or in installments during the duration of the policy. A failure to pay premium when due automatically cancels the insurance policy which, upon payment of the outstanding amount within a certain period, may be restored.