With FlexiPension, a personal pension plan, we ensure you have pension benefits upon retirement.
FlexiPension will enable you to build up a fund by making periodic contributions into a high yielding retirement fund administered by Sanlam in Kenya. It aims to cover all persons aged 18 years and above, whether they are self-employed or employed. It also caters for small occupation schemes which members might want to convert from occupational schemes to lessen financial pressure on their funds from annual administrative and statuary levies.
The Last Expense rider benefit is optional and pays either KSh100 000 or KSh200 000 as a benefit from as little premium as KSh1 200 or KSh3 000 respectively. The benefit is paid to the beneficiaries of the policy holder in the event of the policy holder’s death to take care of funeral expenses.
An annuity plan is an arrangement whereby Sanlam, in exchange for the purchase price/money, enters into a contract to pay a set amount of money (the annuity) on agreed dates for life or an agreed term. Its purpose? To ensure that upon your retirement, an income for life or for a convenient number of years is streaming in.
You can also arrange for joint life annuity provision which, if required, can be extended to cover your children. Our annuity plans are favourably designed to provide assurance against the possibility of the annuitant outliving the purchase premium.
The Last Expense rider benefit is optional and pays either KSh100 000 or KSh200 000 on a premium from as little as KSh1 200 or KSh3 000 respectively. The payable benefit is given to the beneficiaries of the policy holder in the event of the policy holder’s death to take care of funeral expenses.
This group term assurance policy is offered to employers for the benefit of family/dependants of an employee who dies in the line of duty, is permanently and totally disabled, temporarily disabled and/or has critical illness.
The policy guarantees to pay a lump sum usually calculated as a multiple of the salary of an employee or an agreed fixed sum. For convenience and ease of administration of the scheme we try to minimise the number of documents and forms to be completed and submitted by the client.
Upon receipt of the group proposal form, the member’s schedule, premium and policy document will be issued. Sanlam offers very completive premium rates through careful risk assessment and negotiations with clients based on their needs. The premium is payable annually in advance. However, medical evidence of insurability is required for all the sums assured, which are above free cover limit, and the examination is usually carried out by any of the medical examination service providers on our panel.
To claim you will need:
The benefit due will be determined and a “Discharge Form” for execution and return by the policy holder will be issued. Upon receipt of the signed discharge form settlement will be made within three days.
With Group Last Expense we offer your employees affordable insurance to cover all their funeral expenses.
For membership, it takes 20 members with an upper limit of age next birthday as 65 years. Spouse(s), children and parents of members can be included into the scheme as dependants however, dependent children ought to be between 1 and 18 years—cover can sometimes extend to 21 years of age if the dependant is still in school.
Our Group Mortgage policy is for organisations that offer mortgage finance to third parties, such as banks, building societies, micro-finance institutions, cooperative savings and credit societies, hire-purchase dealers.
The policy guarantees to settle 100% of the outstanding loan in respect of a deceased member of the scheme or when a member becomes totally and permanently disabled by accident. The policy can also be taken with a funeral expense benefit at an additional but modest premium. The funeral cover guarantees to avail funds to finance funeral expense in respect of a deceased member of the scheme.
Depending on the arrangements of the collection of premiums from the debtors by the creditor, premiums can be paid in two ways:
The documents required are as follows:
Upon receipt of the group proposal form, the member’s schedule and the premium of the policy document will be issued. Under extreme cases medical evidence of insurability may be required. This is due to high loan amounts and/or high age of a member. The evidence may be required in either of the following ways or both:
To claim, you need to provide
In case of benefits claims, the documents required are:
The outstanding loan will be determined and a “Discharge Form” for execution by the creditor will be issued. Our claim settlement cheque will be ready within a maximum of three days on receipt of the signed discharge form.
Group Credit Assurance is usually suitable for employees of banks, building societies, micro-finance institutions, cooperative savings and credit societies, hire- purchase dealers and employers who offer credit facilities to their employees.
Depending on the arrangements of collection of premiums from the debtors by the creditor, premiums can be paid in two ways:
Upon receipt of the group proposal form, the member’s schedule and the premium of the policy document will be issued. Under this policy there are no medical examination requirements. However, a negotiated waiting period will apply. To claim the members need to:
In case of benefit claims, the documents required are:
The outstanding loan will be determined and a settlement within three days.