The minimum sum insured and annual premium vary from country to country. Please contact the local insurer/distribution channel for details.

Premiums for the first 12 months of coverage are due when the LPP enrollment form is submitted to the insurer/distribution channel. Payments can be made through the local insurer/distribution channel of your choice.

The LPP provides coverage for 1 year from the date of issue and will terminate after 12 months unless renewed. The insurance cover comes into effect 10 days after the receipt of the annual premium.

Within 4 days of an event, you will receive an SMS on your mobile phone to confirm the occurrence of the triggered event and the payout amount. You do not need to fill out any forms.  Within 14 days the payment will be deposited to your bank account.

The distribution channel where you purchased the LPP, e.g. a credit union, will deposit the payout amount to your account.

You will still get the payout even if you do not experience any loss, because the actual payout is only based on wind speed and rainfall amount as recorded by the independent calculation agents.

The maximum annual payout per location is 100% of the sum insured. If this is exhausted in one or two events, you are advised to renew the cover.