Life & Pensions

Some of our pension products include:

Pension Schemes

Pension schemes are a great way of saving up for retirement. They offer good tax treatments for employers and employees to build up a way to save up regular incomes for future use.

Provident Fund schemes

A provident fund is one in which workers contribute a portion of their salaries and employers must contribute on behalf of their workers. The money in the fund is then paid out to retirees, or in some cases to the disabled who cannot work.

Individual Pensions

A personal pension gives you a great way to save up for retirement. You choose the provider and make arrangements for your contributions to be paid. This means you are in control of how much you save for the future.

Annuities

Annuities can play an important role in your retirement plan. You buy an annuity by making either a single payment or a series of payments. Similarly, your payout may come either as one lump-sum payment or as a series of payments over time.

Group Life Assurance

Group Life Cover is life assurance provided by a company for its employees.  The premiums are paid by the employer and provide a lump sum (and, sometimes, a dependent’s pension benefit) on the death of a member of a scheme.

Mortgage Protection Assurance

This is a great product for people in the process of becoming home owners. It is designed to cover the cost of your mortgage payments in the event that an accident, sickness or unemployment stops you from working.

Credit Life Assurance

Credit is a big part of modern financial life.  This product is designed to pay off a borrower’s debt if that borrower dies. The face value decreases proportionately with an outstanding loan amount as the loan is paid off over time until both reach zero value.

Term Assurances

This is a life assurance product that covers a person’s life for a fixed amount of time (or term). If the person lives beyond that fixed term then they can extend the policy or forego the sum assured.

 Endowment Assurance

This product pays out the sum assured after a certain maturity period. Typical maturity dates span decades and are set beforehand. Some policies pay out in the case of critical illness or death

Umbrella Funeral Product: First Death Only

We Offer:

• Family Cover
• Principle, Spouse & 4 Children
• In case of single parent, Principle & 5 children
• Options on SUM insured are Ksh.100,000, 200,000 and 500,000

Premium Tabulation:

SUM ASSURED	PREMIUM PER FAMILY	ADDITIONAL CHILD	PARENT/PARENT IN LAW
100,000	1,500	200	3,000
200,000	3000	400	6,000
500,000	6,000	1,000	15,000

The benefit amount payable on the first death is:

• 100% of the elected sum assured for the member
• 100% of the elected sum assured for the spouse, and
• 100% per child(entry age 1yr and maximum 18yrs)

Terms

• Proposal Form: Copy of ID, Copy of Birth Certificate
• Waiting Period: 60 days from commencement of cover, No waiting period in case of accidental death
• In the event of a claim: Notify Sedgwick and provide relevant claim documents, Claim payable within 48 hours.