Life - Whole Life Policy

Whole Life Policy

Whole Life Policy (With Profits)

The Whole Life plan pays a benefit at the Assured's Death, whenever that may be. As long as premiums continue to be paid, the policy remains in force. The premiums remain level throughout the Assured's lifetime.

 

The policy participates in the company's profits through periodically declared Bonuses, which add substantially to the Death Benefit. The minimum Age at entry is 16 Years and the maximum Age is 55 Years.

This policy provides a high cover at low cost.

 

Example:

Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - Unlimited Years
Annual Premium - Ksh. 2,844/=
Monthly Premium - Ksh. 248/=

 

Whole Life Policy (Without Profits)

This plan is similar to plan 1, the only difference being that this is a without profits plan and the policy does NOT participate in the profits of the Company. The premiums for this policy are lower than plan 1.

 

Example:

Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - Unlimited Years
Annual Premium - Ksh. 2,121/=
Monthly Premium - Ksh. 185/=

 

Limited payment whole life Policy (with Profits)

This is a Whole life Assurance plan where premiums are payable for a selected period of years or until death if it occurs within the period. This is a very good method of making provision for family security when the Life Assured is able to pay all premiums during the vigorous and productive years of his/her life, relieving him/her from the necessity of making payment later in life when they might become a burden. If the Life Assured survives the premium-paying period, the policy continues in full force till the death of the Life Assured

 

Example:

Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - 10 Years
Annual Premium - Ksh. 5,744/=
Monthly Premium - Ksh. 502/=

 

Whole Life Assurance Limited Payments Policy (Without Profits)

This plan is similar to plan c. The only difference is that, the policy does NOT participate in the profits of the Company, which are periodically distributed.

 

Example:

Assumed Age - 35 Years
Sum Assured - Ksh. 100,000/=
Term - 10 Years
Annual Premium - Ksh. 4,080/=
Monthly Premium - Ksh. 357/=