A simple and affordable insurance plan for all ASHA MFB loan borrowers

NGN 7,500 Get from NGN 7,500 per night when admitted to hospital
NGN 1,000,000 Get up to NGN 1,000,000 in the event of death
NGN 150,000 Get up to NGN 150,000 If you lose your place of business in a disaster
BenefitSmall LoanSmall Business Loan 

Individual (up to 5M)

Individual (5M-30M)

Hospital Cash✓✓✓✓
Death Benefit✓✓✓✓
Micro Property (Borrower only)✘✓✓
Credit Life (Borrower only)Pays off loan when borrower passes away.Pays off loan when borrower passes away.Pays off loan when borrower passes away.Pays off loan when borrower passes away.
Monthly Premiums per Borrower

NGN 280

NGN 500

NGN 1,750

NGN 5,000

Monthly Premiums per Family Member

NGN 250

NGN 400

NGN 1,500

NGN 1,750

Top-up

NGN 530 / 6 Months

NGN 530 / 6 Months

N/A

N/A

Combo

NGN 1,600 / 10 Months

NGN 1,600 / 10 Months

N/A

N/A

Top-up/Combo: The Top-up and Combo product extends the Credit Life benefit to the additional loan principal as well as ensures the borrower still has access to the same Hospital Cash, Death, and Microproperty (if relevant) benefits while the Top-up/Combo loan is active, even if they have finished paying their Small Loan or Small Business Loan.

Note: if a borrower has 2 active policies at the time of a claimable event, with the exception of Credit Life, only one claim will be paid.

Eligibility: ASHA MFB Nigeria borrowers, spouses, from 18 -75 years, children & grandchildren living in the household under the age of 25 (biological, adopted, or guardian).

Claiming is Simple

Follow these steps:

1. Call Turaco +234 800 002 2211(toll-free) to inform about the incident within 30 days.

2. Send the necessary claim documents directly to Turaco WhatsApp +234 902 622 4614 within 60 days.

3. Turaco will verify the necessary documents and guide you.

4. Get paid within 3 working days through your Preferred bank account after submitting full and verified documents.

Claim Documents Needed:
  • Copy of National ID (front & back).
  • Discharge summary or Hospital report showing date of
  • admission, date of discharge and treatment received.
  • Hospital invoice or receipt with patient name; and
  • Copy of identification of Beneficiary.
  • Death certificate issued by a qualified medical personnel; OR
  • Letter from a local administrative authority or officiating religious authority AND mortuaryreceipts or burial permit; OR
  • Burial Permit AND coroner’s report or mortuary receipts.
  • Police report (only for accident related deaths).
  • Detailed police abstract.
  • Photos of the destroyed property/business stock.

* Terms and conditions apply

Underwritten by Turaco