Insurance Institute of Zimbabwe

Our word of the day is 𝐖𝐫𝐢𝐭𝐭𝐞𝐧 𝐏𝐫𝐞𝐦𝐢𝐮𝐦𝐬. The total premiums on all policies written by an insurer during a specified period of time, regardless of what portions have been earned.

Before determining the type and amount of life insurance you require, you must have a complete picture of your financial situation.

Think about the plans you have in place to support family members who rely on you financially. This would include any life insurance coverage obtained through employment, an emergency fund, and retirement funds. You might discover that you're not as ready as you thought to deal with the unexpected.

“Keep your face always toward the sunshine―and shadows will fall behind you.” ―Walt Whitman

“All our dreams can come true, if we have the courage to pursue them.” —Walt Disney

“In the middle of every difficulty lies opportunity.” ―Albert Einstein

Our word of the day is 𝐂𝐨-𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞. After the deductible, there might also be a co-insurance. This means that you and the insurance company will share the cost of your remaining fees. The co-insurance is typically broken down by percentage like 80/20 or 70/30. If you choose a plan that has an 80/20 co-insurance, typically you will be in charge of paying 20% and the insurance will be in charge of the other 80%.

“The difference between who you are and who you want to be is what you do.” ―Unknown

Our word of the day is 𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐛𝐥𝐞. This is the amount that you must pay before the insurance will begin to pay. Many plans will allow you to choose your own deductible, if this is the case keep in mind that the higher the deductible, the lower the premium will be. However, the higher the deductible, the more you will have to pay when you use the plan.

“Don’t be pushed around by the fears in your mind. Be led by the dreams in your heart.” ―Roy T. Bennett

“If you work on something a little bit every day, you end up with something that is massive.” ―Kenneth Goldsmith

Our phrase of the day is 𝐔𝐭𝐦𝐨𝐬𝐭 𝐆𝐨𝐨𝐝 𝐅𝐚𝐢𝐭𝐡. This is the duty imposed on both parties to an insurance contract to disclose all material facts.

“It might not be easy, but it’ll be worth it.” ―Unknown

Our word of the day is 𝐔𝐧𝐝𝐞𝐫𝐰𝐫𝐢𝐭𝐢𝐧𝐠. This is a process of accessing a proposal to decide on its acceptability and terms to apply.

“We can do anything we want to if we stick to it long enough.” ―Helen Keller

Our word of the day is 𝐔𝐧𝐝𝐞𝐫𝐰𝐫𝐢𝐭𝐞𝐫. This is a person who makes decisions on whether or not to accept insurance business..

“Never stop doing your best just because someone doesn’t give you credit.” ―Kamari aka Lyrikal

Our word of the day is 𝐔𝐧𝐝𝐞𝐫-𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞. This is insurance for a sum insured less than the value at risk. It basically refers to an insufficient insurance policy.

Welcome back, from the Long Weekend!!! It's time for us to get back to work and get our heads in the game! Let's make it count people!!!

“You can either experience the pain of discipline or the pain of regret. The choice is yours.” —Unknown

Our word of the day is 𝐓𝐡𝐢𝐫𝐝 𝐏𝐚𝐫𝐭𝐲. This is the person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured.

“Hard work beats talent when talent doesn’t work hard.” ―Tim Notke

Our word of the day is 𝐒𝐮𝐛𝐫𝐨𝐠𝐚𝐭𝐢𝐨𝐧. This is the right of one party to stand in the place of another and take up their legal rights against a third party.

“Motivation may be what starts you off, but it’s habit that keeps you going back for more.” ―Miya Yamanouchi

Our Word of the day is 𝐒𝐚𝐥𝐯𝐚𝐠𝐞. This is whatever is recovered of an insured item on which a claim has been paid.

“If you work on something a little bit every day, you end up with something that is massive.” ―Kenneth Goldsmith

Our Word of the day is 𝐑𝐢𝐬𝐤. This is a situation which cannot be controlled or exactly foreseen and the subject matter of an insurance contract.

“Opportunity is missed by most people because it is dressed in overalls and looks like work.” ―Thomas Edison

Our Word of the day is 𝐑𝐞𝐧𝐞𝐰𝐚𝐥 𝐍𝐨𝐭𝐢𝐜𝐞. This is a notice issued by the insurer to remind a policyholder that his/her contract will shortly expire.

“If people are doubting how far you can go, go so far that you can’t hear them anymore.” —Michele Ruiz

Our Word of the day is 𝐑𝐞𝐧𝐞𝐰𝐚𝐥. This is the process of continuing insurance for a further period after the current period of cover has ended.

Registration for the IIZ Winter School 2022 is still in progress...

“You can either experience the pain of discipline or the pain of regret. The choice is yours.” —Unknown

Our Word of the day is 𝐏𝐫𝐨𝐱𝐢𝐦𝐚𝐭𝐞 𝐂𝐚𝐮𝐬𝐞. This is a direct cause of a loss uninterrupted by any other event.

“Stop being afraid of what can go wrong and start being positive about what can go right.” – Unknown

Our Word of the day is 𝐏𝐫𝐨𝐩𝐨𝐬𝐚𝐥 𝐅𝐨𝐫𝐦. This is a written application form supplied by the insurer for completion by the proposer relating to a particular risk. Proposal form is the most important and basic document required for an insurance contract between the insured and insurance company.

“Today is your opportunity to build the tomorrow you want.” – Ken Poirot

Our Word of the day is 𝐏𝐨𝐥𝐢𝐜𝐲 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞. This is a list of exclusive details of the insured and the subject matter on each insurance policy.

“One thing’s for sure, if you don’t play, you don’t win.” – Kylie Francis

Our Word of the day is 𝐏𝐨𝐥𝐢𝐜𝐲. This is the written evidence of the terms of an insurance contract.

Happy Africa Day!!!

We have updated our October 2022 Fees Menu. Download it here 👉 https://bit.ly/3bwbiuc

“It’s the possibility of having a dream come true that makes life interesting.” ― Paulo Coelho, The Alchemist

Our Word of the day is 𝐏𝐫𝐞𝐦𝐢𝐮𝐦. This is the money paid by the insured to the insurer for cover provided in the policy.

We have opened applications for Fellowship class of 2022-2023

“Whenever you find yourself doubting how far you can go, just remember how far you have come.” – Unknown

Our Word of the day is 𝐋𝐚𝐩𝐬𝐞. This is the cancellation of an insurance policy by the non-payment of the renewal premium or by the insurer's decision not to invite renewal.

“Magic is believing in yourself. If you can make that happen, you can make anything happen.” – Johann Wolfgang Von Goethe

Happy Mother’s Day to my very own superheroes and the No. 1 problem-solvers in our lives. We love you!!

Our Phrase of the day is 𝐈𝐧𝐬𝐮𝐫𝐚𝐛𝐥𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭. This is a principle which requires a person taking out insurance to have a legally recognized relationship to the subject matter of the insurance.