Staco Travel Accident Related Risks Insurance Scheme
The Product
Worried by this realization, Staco decided to package "Travel Accident Related Risks Insurance Scheme" (TARRIS) which addresses the following risks associated with air, road, rail and sea travels:
- Payment of compensation for accidental death
- Payment of compensation for permanent disability or partial disability.
- Payment for loss of luggage up to a specified amount
- Payment for medical expenses following accident
The Features
- It provides insurance only when it is needed.
- It covers all the travels embarked upon by the subscriber through any means of transportation including "Okada"
- It covers movement within Nigeria. The proceeds can serve as immediate cash to prosecute accident claims
Schedule of Compensation per Line
| Description |
Local |
International |
| Death (following Travel Accident) |
₦2m |
₦5m |
| Permanent Disability as a result Travel Accident |
₦2m |
₦5m |
| Emergency Medical Cost Following Travel Accident |
₦0.5m |
₦1m |
| Loss of Personal Luggage Following Travel Accident |
₦0.15m |
₦0.25m |
| Any other Physical Severance Following Travel Accident |
per scale |
per scale |
| Burial & Funeral Expenses Following Travel Accident |
₦0.1m |
₦0.25m |
| Pains & Suffering from Hijack |
₦0.25m |
₦0.5m |
| Medical Expenses |
₦0.25m |
₦0.5m |
Distance Cover Premium Line
| Description |
Local |
International |
| One Month |
₦1,000 |
₦2,000 |
| Three Months |
₦2,000 |
₦5,000 |
| Six Months |
₦3,000 |
₦7,500 |
| One Year |
₦5,000 |
₦10,000 |
