This policy has been designed to enable one to have a pure life cover that can be used as security on a loan.
This policy can be used by an organization that needs to offer a life cover to the key persons in the company, such that in the event of the death of the key person, the company is compensated.
This policy provides an inheritance for dependents.
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 70 years respectively. The maximum maturity age is 75 years.
Riders are benefits that come as compliments to your plan and offer additional benefits to you at a relatively low cost. The riders include:
The cover allows you to include all members of your nuclear family together with your parents and parents-in-law and provide peace of mind thanks to Serian Smith pumzisha cover.
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.
1. The policy term ranges from 5 to 20 Years.
2. Premium will be payable for the policy term selected or until the death of the life assured if it occurs within the term of the policy.
Option 1:On survival to the life assured to the end of the selected term, 15% of the premiums paid will be paid.
Option 2:On survival to the life assured to the end of the selected term, no benefit will be payable.
100% of the sum assured.
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 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 does not acquire a surrender or paid-up value.
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