We work hard now to ensure the futures of our little ones remain bright. A great education is the best foundation for a good life, ensure that your child gets this chance through the elimu policy.
Our policy enables you to build a fund over a period of time, making suitable provision for your child’s school fees requirements as to when they are required. It also ensures that the child’s fee required is available even in the untimely death of the policyholder during the term of the policy.
The premium will be payable for the policy term selected (capped at 20 years) or until the death of the life assured if it occurs within the term.
The minimum and maximum ages at entry are 18 years and 65 years respectively. The maximum maturity age is 70 years.
This plan allows for a disciplined, systematic and easy way to save for your child’s financial education needs.
The sum assured and premiums are determined at onset and they remain fixed throughout the term of the policy. You can, however, increase your premiums or sum assured at your policy anniversary.
The plan also has a (saving period) which ranges from 5 to 20 years, which will be chosen by you, and this will depend on when you require the funds.
This is determined by:
The premiums can be paid on a monthly, quarterly, semi-annually or annually and the modes of payment include Standing Order, Cheque, and Direct Debit Authority, M-Pesa or Salary Check off.
The premium is payable up to the end of the term of the policy or on earlier death.
On survival of the Policyholder up to :
Option 1: On death as a result of an accident.
Option 2: On death as a result of accident or illness.
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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