We pride ourselves in timely service delivery that is widely available across Tanzania. Let us work with your insurer for you. We will handle endorsements, claims, and documentation and provide you with renewal reminders. We couple this with expert insurance and risk advisory services for your ultimate convenience and security.

Benefits
  • As an Absa customer, you also have access to an unsecured facility to help you pay for your insurance premium. Whether you are insuring your car, house or household contents, let Absa lift the financial burden and pay the premium on your behalf while you handle more important matters

  • Insurance premium financing is a short-term loan offered to individuals and entities to cover a cash-flow gap during the time of purchasing a new policy or renewal of an existing policy

  • Client is required to apply for an IPF loan and once approved, Absa will remit the full premium with VAT to the insurer listed on our panel who has an account with Absa. The client will then repay the IPF loan over the instalment period chosen

  • IPF is offered for most products except travel insurance, individual/family medical insurance and individual life insurance. Group life assurance and group staff medical are covered under IPF among other general insurance products like motor insurance, business-related insurance, etc

Let us contact you

  • Features that apply

    • Loan tenure: minimum 3 months; maximum 10 months
    • Minimum deposit: 2 instalments
    • Affordable interest rate on reducing balance method
    • Min IPF amount (premium + VAT): TZS300,000
    • Maximum loan size (premium + VAT): TZS500,000,000
    • Administration fee: 1% of the loan value (not premium value) minimum TZS30,000
    • No collateral or security is needed to apply for the loan
    • Quick application process
    • No need to obtain credit life cover

    A detailed requirement for IPF application can be shared with you depending on the product and type of customer (individual/entity).

  • Requirements

    To be eligible for IPF, you must: 
    • Obtain insurance from one of the Absa-approved insurance providers. Visit a branch or speak to an adviser to obtain a list of approved insurers
    • Have an account with Absa
    Documents required to apply: 
    • National ID card or passport
    • Completed IPF application form
    • Premium quotation from insurer
Need more help?

Call us:
0800750078 (Toll free)
+255 (0)746 882 000 (Network charges apply)

Email us:

talktous@absa.co.tz