THE POLICY
This is a group life assurance policy offered to employers, co-operative societies, welfare societies, and other affinity groups to provide means of financing funeral expenses when a member passes on.
DEFINITION OF GROUP (MEMBERSHIP)
The minimum number of bonafied members of a group/society allowed under this policy to form a scheme shall be twenty (20). The upper limit of age next birthday for such members shall be 65 years.
Spouse(s), children and parents of members can be included into the scheme as dependants. Dependant
children should be aged between age 1 and age 21 years.
DOCUMENTATION
We will require the group to complete and submit a group proposal form upon receipt of which we shall issue the policy document to them. Individual members will not be required to complete proposal forms. Also required is the Registration certificate of the group and a list of members covered and their dependants where applicable. We shall also require identification documents of the members e.g. copy of ID card, Copy of passport and birth certificates for children
PREMIUM PAYMENT
The unit premium rate is Kshs 20 per 1,000 sum assured.
- Kshs.100, 000.00, Kshs. 2,000.00 would be payable per person per year.
- Kshs.75, 000.00, Kshs. 1,500.00 would be payable per person per year.
- Kshs.60, 000.00, Kshs. 1,200.00 would be payable per person per year.
- Kshs.50, 000.00, Kshs. 1,000.00 would be payable per person per year.
The premium should be paid in advance at the commencement of cover. The subsequent premiums will be calculated at the renewal date, subject to any changes within the group or by the company.
