COVID Cover

COVID cover is a complimentary cover offered by KBZ Bank to its KBZ Home Loan customers. This special coverage applies to all KBZ Home Loan customers in the unfortunate event of a COVID-19 related death. Terms and Conditions apply.

Insurance Coverage

Claim Notification

1. The insured must inform to KBZ LIFE Claim Department when the claim arises within one month via email ([email protected]) or mobile phone 09407874428 (Viber)
2. The claimant will need to provide the following information after the initial notification: 
   1. The original policy documents 
   2. Death certificate
   3. Recommendation from Ward/ Township
   4.  The claim request letter from the financial institution (beneficiary)

3. If any details are missing once a notification is made to the aforesaid email address, KBZ LIFE would reach out to the claimant requesting details to be provided for claim settlement.

Claimant:  A claimant is defined as a person who comes forward to report the demise of the customer to KBZ Bank and is willing to assist/coordinate with the bank through the claim process.  Unlike in normal cases where a claimant has to be one of the legal heirs or a person specified by the customer while alive, in this case, a claimant can be anyone who is willing to assist through the claim process as the proceeds of the claim goes back to the loan account of the deceased customer.

Claims settlement Process

1. When the borrower dies, the claimant shall reach out to KBZ LIFE Claims department for the settlement
2. The claimant shall provide the below information
3. The original policy documents 
4. Death certificate
5. Recommendation from Ward/ Township
6. The claim request letter from the financial institution (beneficiary)
7. Once KBZ LIFE receives a claim notification, KBZ LIFE shall reach out to the loan department for confirmation of deceased customer particulars
8. Upon receipt of information from the loan (relative) department, KBZ LIFE shall verify the documents received from the claimant.
9. KBZ LIFE shall reach out to the claimant if any details are missing
10. Claimant shall provide all necessary details for claim settlement to KBZ LIFE
11. KBZ LIFE will receive all data necessary from claimant towards claim processing
12. Once the claim is found to be genuine, KBZ LIFE shall inform the Loan department and transfer the claim amount to the loan account of the deceased customer.

If there are details missing, please repeat steps 5 – 8.