The dual purpose life assurance plan: Endowment Plan

One of the greatest investments you will ever make in your life if you have the foresight to do so, is a life assurance plan. Building a strong financial foundation begins with having the right tools, and life insurance is one of those tools.  This is especially important if you are a habitual spender and find yourself unable to save for your future needs.

Sacos has a variety of plans specially designed to meet the specific financial needs and interests of the client.

The Endowment Assurance Plan is one of our most basic plans. You are probably wondering what that is. Endowment plans are basically life insurance policies that serves a dual purpose; it is a life insurance which, apart from covering the life of the insured, helps the policyholder save regularly over a specific period of time so that they are able to get a lump sum amount on the policy maturity. This maturity amount can be used to meet various financial needs such as funding one’s retirement or policy to build a risk-free savings corpus, while providing financial protection for family in case of an unfortunate event.  

The Endowment Assurance Plan will pay you a full sum assured upon maturity with accrued bonuses. This plan provides assurance protection during the term of the contract in case of future emergencies, while still enabling you to meet your non-negotiable life goals. These can be anything from meeting your children’s education expenses, starting up a business or even living a comfortable retired life.  If you unfortunately become permanently disabled before the end of your savings term, you will be paid the full sum assured plus accrued bonuses. The simplicity of the Sacos Endowment Plan has made it an attractive savings plan for just about everyone. 

If the Endowment Assurance Plan is not what you are looking for or you want to consider other options, at Sacos we have an extensive range of life assurance products that can meet your need. Call us on 429 5000 or send an email to for more information.

Why the Full Comprehensive Motor Insurance is the most beneficial

While motor insurance is mandatory for all vehicles, policyholders have the option to choose between Full Comprehensive, Third Party Only and Third Party, Fire and Theft. Some vehicle owners can at times opt for the more affordable options, which is understandable, but if the Full Comprehensive is within your budget, then it is an indispensable option for you.

Accidents can happen anywhere, at any given time, but in Seychelles, the weekend is almost guaranteed of one or more accidents, whether it be a fender bender or a drive in a ditch. While insurance claims are never a hundred percent certain, more than not, your coverage will at least cover damages to third parties.

But what of the damage to your own car? A Third Party insurance will not cover any damage to your car in an accident. Nor will it provide you with compensation in case of a total write-off  after the accident. A car is an expensive asset. Replacing it after a loss might not happen easily or quickly.

This is where the Full Comprehensive Motor Insurance becomes beneficial. In order to ensure you have sufficient protection you will need a comprehensive motor vehicle insurance. This is a coverage that helps pay to replace or repair your vehicle if it’s damaged in an accident. In addition, it provides you with financial protection against vandalism, broken windscreens or damage to the vehicle while parking.   

Full Comprehensive motor vehicle insurance varies, depending on the level of cover you choose – the more extensive the option, the better the coverage against different losses. The best comprehensive motor vehicle insurance for passenger cars covers against:  

  • Accidental collision or overturning following accidental impact
  • Collision or overturning consequent upon mechanical breakdown  
  • Fire
  • Burglary
  • Malicious Act
  • Windscreen 
  • Loss of use
  • Personal Accident
  • Funeral cover

Not only does the Full Comprehensive Motor Insurance provide sufficient coverage for any eventuality, but it also provides peace of mind, knowing that Sacos has got you adequately covered.

In case you are still wondering whether the Full Comprehensive option is best for you, Sacos is currently running the WIN BACK promotion when you purchase a Full Comprehensive cover between now and the end September, you are automatically entered into a draw that can see you refunded back your WHOLE insurance premium, up to SCR30,000! The promo lasts until December 2020 and every month, a lucky winner is selected from the pool of existing and new Full Comprehensive policyholders.

Take the leap and switch to Full Comprehensive! Contact us now on 249 5000 or  to purchase or renew your policy, and be eligible for this promotion.

4 months left in 2020, and up to SCR120,000 left to be won! Will YOU be our September winner?

Sacos is currently running the Full Comprehensive Motor Insurance promotion for the year 2020. This means that every month a lucky winner will be selected at random to win back the value of the premium on their Full Comprehensive Motor Insurance up to SCR30,000.

The Win Back promotion started in 2018 and since its inception, several lucky policyholders have won back their full premium on their motor insurance. 

The promotion was designed to reward Sacos customers for their loyalty and confidence in Sacos Insurance Group. It has also served as a sensitisation campaign on the importance of having full, adequate protection. 

The promotion has been a welcome financial help for many of our former winners who, thanks to the cash prize, have been able to make payments on their existing policies as well as purchase new ones as extra security.

Who is eligible?  

All Existing and New private comprehensive and Taxi operators who have a full comprehensive cover with us will enter the draw, provided they have renewed their insurance policy.  

Does it matter how long I have been a client of Sacos?  

No -our winners are all of different ages and backgrounds. Some of our winners have been with us for over 25 years and some for as little as a few months!  

How much can I expect to win back?  

Whatever your annual premium is, you get the whole sum back! This is any value up to SCR30,000!  

How do I enter?  

To enter for this September, you need to ensure you have renewed your policy before the month’s end. Don’t have a policy? Purchase one now! New customers are also eligible! So far 8 winners have won back their monthly premium on their Full Comprehensive Motor Insurance for the year 2020. If your name is not drawn this time, not to worry! You still have 3 more chances before the year ends!  

What are you waiting for?  2020 has seen 8 policy holders win back their premium, with the biggest payout at SCR22,000. The September winner could be you! Ensure you renew or purchase your insurance before the end of September 2020 in order to be eligible for your name to go in the next draw.

 Contact us today for more information on the full comprehensive motor insurance on 249 5000 or

Get your Marine Cargo Insurance with Sacos

Since the start of the COVID-19 pandemic, the shipping industry around the globe has taken a heavy impact from the resulting economic crisis. One of the major challenges facing the industry has been the ability to continue transporting food and other supplies in the least disruptive manner possible.

In the shipping industry, marine cargo insurance is an important component to operational service as it provides protection to both buyers (importers) and suppliers (exporters) in terms of loss of or damage to the cargo during transit. This component is reflected within the cost of every transshipped product as part of the CIF (cost, insurance and freight) value.

During these unprecedented times, local suppliers may be looking for ways to keep their production costs stable and their prices competitive on the global market.

Sacos’ Marine Cargo Insurance provides coverage against losses arising from physical damage to cargo and related liabilities whilst it is in transit by sea. It can be for a single shipment or an open cover for clients who import or export on a regular basis. With the fluctuating exchange rate and the devaluation of the SCR, buyers and suppliers can rely on local insurance products to minimise the cost to their businesses.

With the Sacos Marine Cargo Insurance, clients can choose between the three different options of Institute Cargo Clauses as issued by the International Chamber of Commerce. The premium rates are commensurate with the chosen option:

  • Clause A has the widest insurance coverage.
  • Clause B has a more restrictive coverage.
  • Clause C has a basic coverage.

Call us today (429 5000) for more information on the Marine Cargo Insurance or send an email to