Anticipated Whole Life
The Anticipated Whole Life Policy (Single and Joint Life) is a unique product that combines the advantages of both Whole Life and Anticipated Policies.
The plan is designed to provide two distinct types of benefits. They provide complete long-term assurance protection and in addition help to meet various short-term needs through periodical payments. The plans, apart from providing death benefits also provide increasing benefits payable on survival of the life assured at specified intervals.
Premiums are payable until the end of the selected term or until death, if it occurs earlier. For joint life policies, premiums are payable until death of either of the lives assured or expiry of the premium paying term (whichever comes earlier) but cover continues until the death of both lives.
The policy can either be effected as Single or Joint for terms of 10, 15, 20 or 25 years.
Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - 10 Years
Annual Premium - Ksh. 16,165/=
Monthly Premium - Ksh. 1,414/=
The Death Benefits for these plans include: -
Single Life Policy - in the event of Death at anytime even after expiry of the premium paying term, full Sum Assured plus accrued bonuses become payable.
Joint Life Policy - there is payment of Basic Sum Assured on the First Death and on the Second Life Assured, there is Basic Sum Assured Plus accrued Bonuses.