PERSONAL iNSURANCE
Last Expense
The NCBA Last Expense is an insurance policy that helps you and your family deal with the burden of meeting the burial expenses on the death of a family member.
This policy offers you the following benefits;
- A decent send off to your loved ones.
- No financial burden to your loved ones.
- Ability to extend coverage to your parents and parents in-law.
- Premiums are payable upfront with no waiting period on accidental death.
- An annual renewable policy.
- Flexibility to review your limits on renewal.
Credit Life
This insurance solution covers you in the event of death, disability or retrenchment that may prevent you from earning income to service the debt.
NCBA Educator
NCBA Educator is an education policy designed to help you cover your child’s educational expenses. With this plan, you can contribute as little as Kes 2,000.00 per month and receive a lump sum payment at the end of the policy term.
However, this policy is not limited to education. It allows you to save for an asset, venture or financial goal making it a flexible solution for anyone who wishes to save for the future. It offers the opportunity to generate, grow, and protect your wealth as you nurture your dreams. Additionally, you can enjoy a 15% tax relief on the monthly premium, up to a maximum of Kes 5,000.00.
Benefits
- Guaranteed return on investment: Full knowledge of return on maturity, making the pay-out predictable. In addition, the solution cushions/protects one’s savings from fluctuations that may be caused by a difficult economic environment.
- Competitive returns: Compared to the others in the industry, NCBA offers superior returns.
- Enhanced free medical underwriting: To reduce customer effort, there are no medical examinations for a sum assured up to Kes. 7 million.
- Inbuilt waiver of premium: In the event of premature loss of life, the underwriter covers the future premiums.
- Lump sum payment: On maturity, a one-off payment is made to the investor.
- Policy re-dating: Extend maturity date without paying arrears.
- Flexible payment frequency: Premium payments can be made monthly, quarterly, half-yearly or annually.
- Premium discounts: Enjoy competitive discounts when premium payments are made quarterly, half-yearly or annually.
- Reinstatement: You can reinstate lapsed policies by settling the arrears without incurring any penalties.
- Ease of cover changes e.g. enhancements: The investor can increase or decrease the premium amount mid-term if circumstances require it.
Optional Benefits
- Unemployment benefit: If the investor loses their income due to retrenchment or the winding down of the employer's business, the insurer covers an amount equivalent to six monthly premium payments.
- Second medical opinion: This benefit provides access to a medical second opinion from renowned medical centres whenever needed. The insured, their spouse, and an unlimited number of named children can benefit from this service. It helps confirm the accuracy of diagnosis, explore treatment options available, and change/ optimise current treatment options.
- Enhanced critical illness cover: In the unfortunate first diagnosis of a critical illness, the policy will payout 50% of the sum assured (up to a maximum limit of Kes 5 million) to assist alleviate any expenses that may be incurred.
- Permanent total disability: The benefit pays out up to the full sum assured if the investor becomes permanently and totally disabled due to an illness or accident.
- Double death benefit (accidental and sickness): The benefit immediately pays the sum assured, waives future premiums, and still pays upon maturity.
- Tax incentive: The investor enjoys a 15% tax relief, capped at a maximum of Kes 5,000 per month or Kes 60,000 per annum.
Requirements
- Copy of Identification
- KRA PIN
- Passport-size photograph
- Completed proposal form
- First premium payment
Premium Payment Frequency
- Monthly
- Quarterly
- Half–yearly and
- Annually
Card Insurance
This policy provides protection against fraudulent transactions on your credit card. Additionally, in the unfortunate event of the cardholder’s death, the outstanding credit card balance is covered and settled.
This policy covers:
- Permanent and total disability
- Critical illnes
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