Life Insurance Cover

Choose cover

1.      Education insurance

An Education plan is designed to assure that the child’s education shall be taken care off upon survival of the policy holder  or unfortunate events such as  disability or loss of life. Payouts and premiums are designed based on projected educational needs of the child and financial ability of the policy holder respectively. Monthly savings from as low as Kshs 1,000 per month.

Other benefits include,

  • Payouts are tax-free
  • Can be used as a long-term investment/savings option
  • Get up to 15% tax waiver
  • Can be used to accumulate funds over time.
  • Is a disciplined way of saving
  • Up to 10 beneficiaries in a single policy
  • Competitive rate of bonuses

2.    Endowment Policy

  • Designed to enable the policy holder build funds over a period of time and at the same time make provision in case of an early demise.
  • Policy holder can have access to the funds at specified times during the term of the policy
  • The Endowment plan also assures the policy holder a lump sum at any desired age, which can further be reinvested to provide an annuity during the remainder of their life.
  • Can also be a pure life cover that can be used as security for a loan or provide an inheritance for ones dependents.

4.    Credit Life insurance

Credit Life Insurance is a life policy designed to pay off a borrower’s debt if that borrower dies before the loan is fully paid back to the lender.  In the unfortunate event disability or  untimely demise of the borrower.

Benefits of Credit Life Insurance

  • The borrower is protected from losing their savings or other property if they cannot repay the loan due to death, disability or involuntary unemployment
  • Beneficiaries and dependents are protected from taking up liabilities that they were not a party to and/or privy to
  • The lender is protected from losing the money borrowed

Types of Credit Life Insurance

Single Life Policy

Single Life Insurance covers one person only and pays out the insured value if that person dies during the length of the policy or makes a claim under the terms of the subsisting insurance

Joint Life Policy

Joint Life Insurance covers two or more lives (for instance a spouse or business partner) usually on a first death basis. The insured value is paid out if one of the parties dies during the length of the policy, after which the policy would end

Eligible Loans

  • Education Loans
  • Secured Loans
  • Unsecured Check-off Loans
  • Special Scheme Loans
  • Investment Group Loans
  • Asset Finance

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