Serian Insurance arranges appropriate fire insurance for business and domestic risks. Fire causes massive loss / damage to buildings plant / machinery stocks and contents. There is also loss resulting from interruption to the business following fire damage.
This provides indemnity for loss of or damage by fire, lightning, bush fire, earthquake, fire and shock, explosion, aircraft, riots, strikes, malicious damage, subterranean fire, storm, tempest, flood, and overflowing of water pipes and tanks and impact damage by vehicles.
Loss of or damage to private houses and the contents therein arising out of fire, lightning, burglary and other perils as specified in the policy including riot and strike and malicious damage.
Physical loss of or damage to property insured and loss of gross profit arising from any cause not excluded by the policy. Loss of profits following business interruption by perils covered under property damage section.
Loss of profits following business interruption by fire, lightning, bush fire, earthquake fire and shock, explosion, storm, tempest, flood, overflowing and/or bursting of water pipes and tanks, aircraft, impact, third party vehicles riot, strikes and civil commotion, malicious damage and spontaneous combustion and subterranean fire.
Physical loss or damage to stock in trade and any other goods incidental to the business the property of the insured or held in trust or on commission whilst contained or in the open in any premises used, owned, rented, let or leased by the insured anywhere in East Africa and/or whilst in transit by road, rail, air, parcel post, inland waterway by insured’s own or hired vehicles and/or transporter’s own or hired vehicles anywhere in East Africa.
Indemnity against financial loss arising as a result of destruction or damage to records occasioned by fire and associated perils.
Indemnity against physical loss or damage including business interruption arising thereof as a result of the use of violence against persons or property to further political objectives.
On survival of the Policyholder up to :
100% of the sum assured plus accrued bonus (simple reversionary bonus).
The benefits are payable as a lump sum or in form of an annuity payable in installments, as specified by the life assured e.g. monthly, quarterly, half-yearly or yearly, the first payment is payable at the end of the term of the policy.
On payment of additional premium, the following rider benefits are available;
On total and permanent disability due to an accident, an amount equal to the basic sum. assured will become payable in equal monthly installments over a period of 24 months from the date of the accident. The disability referred to must be such that there is neither then or at any time thereafter any work, occupation or profession that the life assured can do to earn or obtain wages, compensation or profit.
On death, due to an accident, an amount equal to the basic sum assured will become payable. This is in addition to the main benefit.
All future premiums will be waived following total permanent disability due to accident or illness.
In case of an accident leading to the injury and hospitalisation of the life assured, the in-patient medical expenses incurred will be reimbursed subject to a maximum of 60% of the policy sum assured but not exceeding Kes. 500,000/-.
In the event of the first diagnosis of a specified critical illness, an amount equal to 30% of the sum assured is payable to the life assured up to a maximum of Kes. 300,000. Includes: Cancer, Stroke, Heart Attack, Kidney Failure, Paraplegia or Paralysis, Coronary, Artery Disease, Major Organ Transplant, e.g. Kidney transplant.
In the event of loss of employment due to adverse business conditions e.g. introduction of new technology or re-organization of the business by the employer, future premiums will be waived off up to a maximum of 6 monthly installments. This will cease if the assured secures employment before the end of 6 months.
The policy will acquire paid up and surrender values after payment of at least 3 full years’ premium.
Loans will also be available within the surrender value of the policy.
By law, a 15% insurance relief will be granted to the policyholder up to a maximum of Kes. 5,000 p.m. (Kes. 60,000 p.a.).
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