Description

A whole life protection plan gives you protection in the event of death, critical illness or total and permanent disability. It offers you the option to cover your spouse in addition to yourself.

It helps create an immediate estate for your dependents, helping your family maintain their lifestyle without having to sell land or property. It helps you and your family offset the financial strain of critical illness in the event that you or your spouse is diagnosed with a critical illness   defined in the policy.

Think of your Money plan like building a house. You would not start with the roof, right? You would start with a solid foundation.

Life insurance is that solid foundation. It protects your family’s future, so you can then focus on growing your savings and sharing it out when the time is ripe.

Make sure your financial house is build on  solid ground. Start with life insurance then build it from there.

What is Whole of life insurance Cover

A whole of life insurance Cover also called Permanent Life Insurance. It continues to provide protection, income replacement and continuity for one’s entire life. It is different from fixed period covers.

1. Income Replacement – In case of a critical illness or death the plan protects your family from liabilities that may come with this unpredictable life in eventualities.
2. Income Protection – God is our master protector. In life, we all need to protect our loved ones and ourselves, albeit in financial terms. By setting aside little money, you can protect yourself and family from financial misfortune caused by an early passing, critical illness or an unforeseen disability. To consider yourself successful, it is important to lock in the wealth in case of  death or a critical illness.
3. Income Continuity – If a husband and wife earn the same salary the family will suffer a 50% drop in income if one of them dies or is critically ill thus unable to earn. If one person in the relationship earns most of the family income, the other person will lose all that income if their  partner were to die. This plan covers two lives, you and your spouse on a 1^st Death or Critical Illness basis.

Key Features of a whole of life insurance cover

• Life time coverage – The policy remains in force for the entire life provided premiums are paid.
• Life time financial protection- Whole of Life insurance guarantees a payout to your beneficiaries whenever the insurer passes away ensuring long term security for your loved ones.
• Estate Planning & Wealth Transfer – It helps in passing wealth to your heirs tax efficiently, ensuring your assets are preserved for future generations.
• Fixed Premiums and Guaranteed benefits – The premium remains constant throughout your life, making it easier to budget for and the death benefits guaranteed.
• Coverage for Final Expense – Helps cover funeral costs, medical bills and other end of life expenses reducing the financial burden for their family.
• Tax benefits – You receive tax relief of 15% of the premium up to a maximum of Kshs. 60,000.00 annually. This reduces your tax liability which would otherwise be incurred without life insurance.

How it works

Select the amount of sum assured you wish to cover your loved ones with. A Cover limit of between 1M – 50M. You then pay a regular premium of your choice over a period of 10,15,20, up to 60 years, up to 65 years or for life. Coverage continues for the and pays the sum assured to your loved ones eventually.

Flexible Premium payments

Premiums can be paid on a monthly, quarterly, semi annually or annual basis

Optional benefits

Serious/Critical illness – This benefit provides a lump sum amount upon the first diagnosis of various conditions e.g. Cancer, Kidney Failure, heart attack, aortic surgery, paralysis, major organ transplant.

Permanent Disability– The benefit pays a lump sum amount on first diagnosis of permanent total or partial disability. The disability may arise from an accident or an illness. The payment can help you seek treatment locally or abroad and assist with the costs involved in adjusting to changes on your daily living. Both benefits cover up to age 65.

Whole of Life cover is ideal if you are looking for life coverage, financial stability and wealth building opportunities. We help you compare policies and ensures they align with your long term financial goals.