Life Cover [Term Assurance]

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.


What are riders and why should I take them?

Riders are benefits that come as compliments to your plan and offer additional benefits to you at a relatively low cost. The riders include:

Accidental Death Benefit – Where an additional amount equal to the sum assured will be paid in the event that you die as a result of an accident.

Total & Permanent Disability – Where an amount equal to the sum assured will be paid to you over a period of 24 months in the event that you become disabled as a result of an accident or illness.

Waiver of Premiums – In the event that you become totally and permanently disabled, all future premiums will be waived and the policy will remain in force.

Accident hospitalization Benefit – In the event that you or the beneficiary child are hospitalized as a result of an accident, SIAL would reimburse the inpatient medical costs incurred, subject to 60% of the policy sum assured to a maximum of KSh500,000.

Retrenchment Rider – This rider enables the life assured keep the policy in force in the event that he/she is retrenched during the period of the policy.

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 the Funeral Expense cover.


Product Specification

a] Premiums

  1. Life assured’s age.
  2. Frequency of premium payment.
  3. level of cover selected.
  4. Term of the policy.

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.

b] Policy Terms

  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.