08/08/2024
Product Category:
Endowment: Combines savings and insurance with a fixed term. It provides a maturity amount at the end of the policy term.
Education Policy: Designed specifically to ensure the education of the insured’s children, even in the event of the policyholder's death.
Eligibility:
Entry Age: Minimum 18 years, Maximum 60 years.
Maximum Age on Cover: 70 years.
Policy Term: 6 to 18 years.
Benefits:
Maturity Benefit: The policyholder receives 100% of the Sum Assured at maturity.
Guaranteed Bonuses:
Two bonuses, each equal to the Sum Assured, are provided.
The first bonus is paid 2 years before maturity, and the second one is paid 1 year before maturity.
Premium Holiday: The policyholder is not required to pay premiums in the last two years of the policy term.
Waiver of Premium: In the event of death or disability, the policyholder’s family is not required to pay premiums for the remaining term.
Death Cover (Optional):
If the insured has death cover, the Sum Assured, bonuses, and maturity benefits are paid even after death.
If no death cover is chosen, bonuses and maturity benefits are still paid.
Tax Relief: Policies with a term of 10 years or more qualify for a 15% tax relief on premiums, up to a maximum of Ksh 5,000 per month.
Policy Loan: After 2 years, the policyholder can borrow up to 80% of the Cash Surrender Value.
Non-Forfeiture Options:
Cash Surrender Value: The policy can be surrendered after 2 years, but this will terminate the contract.
Paid-Up Options:
Customer-Initiated Paid-Up: The policy can be converted to a fully paid-up policy with a reduced Sum Assured if the policyholder stops paying premiums.
Automatic Paid-Up: The policy is automatically converted to paid-up after 2 years of non-payment.
Death and Disability Benefits:
Death Cover (Natural): Includes a 12-month waiting period; premiums are refunded if death occurs within this period. Afterward, the benefit is paid in full.
Death Cover (Accidental): No waiting period; the benefit is paid in full immediately upon accidental death.
Waiver of Premium on Death & Disability (Natural): Also includes a 12-month waiting period.
Death & Disability Benefit (Accidental): Applies immediately with no waiting period.
Sum Assured:
Minimum: Ksh 100,000
Maximum: Ksh 6,000,000
Medical Requirements:
Non-medical (Lien Option) with certain limitations if no medical examination is conducted.
This product is designed to ensure that even in unforeseen circumstances, a child’s education is financially secured. It provides a combination of savings, life cover, and potential tax benefits. The policy also allows for flexibility in premium payment, with options like premium holidays and loans.
Lets engage: contact me on 0716 529329 or via email: [email protected]
