Bumaco Life Insurance rises from a core philosophy of “insurance as a development tool”. Bumaco is built with the mission of serving people in management and development. In respect to this, we have been serving the Tanzanian community since 1981. Our insurance history is traced way back in 1982 when we were an agency dealing with both life and non-life insurance. Following a wealth of experience in providing general insurance to the Tanzanian community and the ongoing national call for expanding the penetration of insurance in the country, Bumaco Life Insurance Company was registered in 2019. The Company is incorporated in Tanzania under the companies Act (2002) and chartered to operate as an insurer under the Insurance Act, 2009.
As our serving mission guides us, we strive to provide life insurance products, services and education to all Tanzanians. Our purpose is for every citizen to have a risk plan for themselves and their families. We, thus, have a range of products for both individuals and groups.
Our Vision
Providence
Our Mission
To initiate, propagate and institute among individuals, groups and communities lifestyles that embody providence and provide insurance services that support the actualization of this mission.
Core Value
For our customers, stakeholders, employees and society at large, Bumaco life Insurance Company Limited will strive for:
Integrity, compassion, team work, excellence, responsibility, accountability
Our Product
Bumaco Life Insurance Company Limited offers the following products:
This assurance policy provide for lump sum benefits in the event of death and on survival, 2 times the full sum assured together with accrued bonuses will be paid
This product of assurance has both, protection and savings elements. It provides benefits on premature death of an employee or on retirement of the employee.
This plan suits groups that are tied together for similar purpose. Each member of the group will have their own limit or sum of assurance and will be specified in the policy schedule
The sum assured and accrued bonus are paid by instalment over agreed period to provide fees for whether Primary, Secondary or University Education in categories policy of Junior, Senior or Combo.