For first time expats, moving into Mozambique can be a process as there are many aspects of daily life that we don’t really think of until we need to address them.
Banking services is certainly one of these aspects. From simple tasks such as everyday shopping to the sometimes-new habit of managing different currencies, there is certainly a learning curve to those moving to the “Land of good people”. For that reason, we teamed up with Millennium bim Bank, an institution we are very familiar with, to create a six-chapter series on the basics of banking in Mozambique to help you settle in. Welcome to Understanding – Expat Mozambique.
Chapter 4: How to get insurance in Mozambique
Moving to a new country, a new reality, a new culture, as well as great changes and new horizons, brings with it a new set of concerns and doubts.
In today’s article we will try to approach – in a simple and accessible way – the range of insurance products offered by Banco Millennium bim, which aims to contribute to the tranquility and peace of mind of those who have chosen Mozambique as their new home.
And since we’re talking about a new home address, Multi-risk Home Insurance, is the ideal choice to safeguard your home against unwanted, unforeseen events. This insurance covers the damage caused to both the movable and immovable belongings of your home, offering comprehensive and flexible coverage, since the value of the insurance’s premium is calculated according to the insured capital of the property and all its furniture and contents. You can opt for a base package, which includes coverage in the events of fire, lightning strikes, explosion or demolition, and add complementary protection, for example, in the events of storms, floods and landslides.
In addition to the safety of having a place you can call home, it is essential to be able to move around safely and, in this case, car insurance is your next natural step. In addition to the compulsory insurance required by law, the basic coverage of Millenium bim’s Auto Insurance covers events of isolated breaking of the windshield and offers coverage of the vehicle’s occupants (death, permanent disability, medical/hospital expenses and funeral expenses). You can always add more cover, such as coverage against impact, collision and rollover, loss or theft, among others.
Life Insurance is Millenium bim’s option designed to ensure the protection of its Customer’s Beneficiaries. This is a Life Insurance that covers the risks of Death or Total and Permanent Disability, in any instance (accident or illness). This insurance offers the possibility for all Customers to take care and ensure the future of their family in the face of unexpected situations.
Sometimes it is necessary to go further than a car can take us. Whether it may be for tourism or to fulfil new deals and partnerships, if you have a trip in mind, Millennium bim offers its own Travel Insurance, with a simplified signing up process and no need for medical examinations, providing coverage for the Risk of Death, Risk of Total and Permanent Disability and Expenses of Treatment and Repatriation. Travel Insurance can be purchased by all persons aged between 15 and 65 years.
Lastly, Right Choice Insurance covers accidents suffered by the Insured Person worldwide, provided they arise from: Professional and Extraprofessional Risk, usage of regular means of transport, accidents originated from the practice of sports as an amateur, on top of providing coverage for Risk of Death and Risk of Total and Permanent Disability.
You can consult more details, and subscribe to these and other insurance options, by going to any Millennium bim branch.