Trustco Life Limited is a long-term insurance company registered in March 2006 in terms of the Long-term Insurance Act 5 of 1998.
Insurance has now become accessible to every individual in Namibia with the launch of Trustco Life Plus. Trustco Life Plus will help to ensure that your dependents have adequate funds when you are no longer around to care for them.
It gets better: with Trustco Life Plus you have a unique option to increase your life cover without your premium being increased – just by leading and maintaining a healthy lifestyle.
What is Life Insurance?
Life insurance is service which is paid for every month in exchange for a guarantee that the family members of the person who makes the monthly payments (the insured) are taken care of financially in the event that the insured is no longer able to earn an income due to disability or in the event that they pass away. The insured is, in many cases, the breadwinner of the family.
The insured enters into a contract with the service provider (the insurance company, also called insurer) where the insurer makes a promise to pay the people whom the insured chose (the beneficiaries) to receive the money (the benefits) when the insured is no longer able to earn an income due to disability or in the event that they pass away.
In a nutshell: insurance is a service that gives an insured individual the opportunity to enjoy life with few to no worries because they know that their loved ones will not have to face financial hardship when they pass or become disabled and are no longer able to earn an income.
In 2013 Trustco Life Limited entered the traditional insurance market with the launch of a term life product called Yambu Life. With Yambu Life, life insurance became more accessible to the man on the street with cover starting at a cost of less than N$5.00 per day. Medical testing is optional and cover may be increased, at no extra cost, by improving the individual’s life style and risk factors. The insurer recently introduced a Trustco Life Plus product that is based on the same principals as the Yambu Life product. This Trustco Life Plus product also offers a no-claim bonus allowing members to get all their premiums back after 15 claim-free years.