What are the product benefits?
1. Survival Benefits
100% of Accumulated Fund Value at Maturity.
2. Death Benefit
100% of Accumulated Fund Value and 100% of Sum Assured in case of death within
policy term.
How does the plan work?
One can decide to either make a Single premium deposit or an Annual premium deposit for a maximum of 5 years subject to a minimum single deposit of Kshs.250,000 or an annual premium deposit of Kshs.50,000 per annum. Ad-hoc top-ups are allowable at any point during the term of the policy.
How much life cover will i get?
The Life Cover is equivalent to 50% of the single premium payment or 2.5 times of the elected yearly instalments subject to a maximum cover of Kes. 1,000,000 per policy. Once the sum assured of Kes 1,000,000 has been attained, additional policies will be subject to sum assured of Kes. 100,000 each. The aggregate sum assured for all policies shall be capped at Kes. 10,000,000. Sum assured will be restricted to a maximum of Kes. 100,000 for new entrants aged 70 ANB and above.
Does the plan have any additional benefits?
Yes, the plan has additional benefits as listed below:
- Policy loans –The policyholder is eligible for a loan after 2 years. The maximum loan amount shall be 50% of the fund value.
- 2. Tax Relief of 15% on premiums to a maximum of Kshs. 60,000 per annum.
Can I terminate the policy before the end of the term of the policy?
Yes, you can. Early cancellation/withdrawal of the policy is allowed only after 2 years but is subject to fund realization charges and any applicable cancellation/withdrawal processing fee.
