It’s important to plan for the future and the future of your education. Below we provide the pension scheme available at Madison Insurance and also education policy.

Bima Ya Karo

Bima ya Karo is education policy—that will finance your future studies.

Benefits

Standard

1. Cash benefits – Cash payments are available and payable during the last 5 years before the maturity date.
2. Waiver premium – In the event of death or permanent disability (of the parent) while the policy is still valid, all future premiums shall be dropped and cash benefits will be payable.
3. The policy term ranges from 10 – 18 years.

Optional (*at additional premiums)

1. Death benefit – If the parent/guardian passes on while the policy is still valid and premiums are up to date, we will pay 50% of the amount on the cover for the needs or upkeep of the child mentioned in the policy.
2. Critical Illness – Upon the diagnosis of critical illness, while the policy is still in force, we will pay 25% of the amount payable on the policy. Critical illness would be heart attack, stroke, cancer, renal failure, paraplegia, coronary artery disease, blindness and major organ failure.
3. Funeral cash benefit – The policy also provides funeral cash benefits in the following limits of the amount payable on the policy:
   • Adults – 100,000 Kshs
   • Children – 50,000 Kshs

In the event of the death of the named child, while the policy is still valid, the parent/guardian may nominate another child or get a refund on all premiums (minus any extra benefits already paid).

The policy also acquires a cash value (available amount within policy that can be borrowed from us) after being in effect for at least 3 years (all premiums must have fully been paid).

GainPlus Annuity

Our annuity contract is designed to provide periodic income for life once you retire. Our policy acts as an ‘income replacer’ to remove the worry of not having a budget for an unknown period of time.

We provide different types of annuity.

1. Single Life Annuity – pays you.
2. Joint Life Annuity – pays you and reverts to your spouse upon your demise
3. Immediate Annuity – starts paying you immediately after you purchase the product
4. Deferred Annuity – starts paying at a later date to allow accumulation of funds. These funds may be paid periodically or as a lump-sum.

The policy has a guarantee period of 5 to 20 years (depending on what you’d prefer). In the unfortunate event of your demise, your named beneficiaries will receive the continued payments.

Hekima Policy

Our Hekima policy allows you to create wealth while still protecting you as a Life Insurance policy. We guarantee high returns on your money once the policy matures.

• The policy is a life policy that offers cover upon your death but is still an opportunity for you to collect high returns on the initial amount within the policy.
• Bonuses are taken as a percentage of the the main cover amount, payable on the policy, and declared every year. Our minimum guaranteed bonus is 2.5% per year.
• Partial maturity payment is available. This means that you are able to receive certain amounts of the full cover at specified periods of maturity within your policy.
• In case of your unfortunate death during the term of the policy, the amount payable on the policy and all bonuses received are paid out to your named beneficiary(s) (without deducting any partial maturity already paid out)
• The policy pays out a total of 160% of the initial amount covered by the policy.
• The policy term ranges from 12-24 years.

Benefits

1. Partial Maturity

Upon surviving the full term/duration of the policy, partial maturities are paid depending on the option chosen.

Option	Maturity	Point of Payout	Sum Assured
Option 1	1st	1/3 of term	25%
	2nd	2/3 of term	35%
	Full	End of term	100%
Option 2	1st	1/2 of term	25%
	2nd	3/4 of term	35%
	Full	End of term	100%

 

2. Surrender Value

This is the amount payable should you choose to exit the policy before the end of the policy duration. The policy shall be required to have been active for at least 3 years and received all premiums for this period. A loan can also be advanced against this value.

Additional benefits (at extra premium*)

1. Funeral cash – The policy also provides funeral cash benefits limited as follows:
   • You – 100,000 Kshs
   • Spouse – 100,000 Kshs
   • Child – 50,000 Kshs
2. Permanent and Total Disability – We shall pay an amount equivalent to the basic sum assured in the event of your total disability resulting from accidental injuries or illness.
3. Waiver of Premium – In the event of your total and permanent disability, all future premiums, owed to us, shall be dropped and the policy remain in force up to the end of the policy term.
4. Additional Fatal Accident – In the event of your accidental demise through accidental causes, 200% of the initial amount payable and any additional bonuses are awarded to your named beneficiary(s).
5. Accident Indemnity – In the event that you are disabled or prevented from engaging in any gainful occupation or completely unable to work as a result of an accident, you will be paid a weekly compensation benefit depending on the sum assured payable.

Lala Salama

This is a unique package developed for groups that enables members to give their loved ones a decent send-off and reduce the need for a fundraising for a departed member, spouse or child. The benefit is paid within 48 hours.

Features

• Provides lump sum funeral cash benefit
• Provides a flexible choice of the amount to be covered.
• Benefits under the policy are payable within 48 hrs of provision of documentation.
• Membership is open to a member, spouse, children and Parents.
• Maximum age for eligibility is 65 yrs but can be extended up to 75 yrs with some loading.
• Children are covered up to 18 yrs or 24 yrs if they are students.
• No medical underwriting
• The waiting period is 90 days for non-accidental death.
• Individuals/Families

Option 1 – Funeral Cash Only

Sum Assured	Annual Premium Per Person	Monthly Premium (For Check-off payments only)
200,000	2,750	277
150,000	2,063	208
100,000	1,375	139
80,000	1,100	111
60,000	825	83
45,000	819	62
30,000	412	42

Option 2 – Funeral Cash, Critical Illness and Total and Permanent Disability

Funeral Cash	Permanent and Total Disability (100% of FC)	Critical Illness (50% of FC)	Annual Premium Per Person	Monthly Premium (For Check-off payments only)
200,000	200,000	100,000	4,560	459
150,000	150,000	75,000	3,420	345
100,000	100,000	50,000	2,280	230
80,000	80,000	40,000	1,824	184
60,000	60,000	30,000	1,368	138
45,000	45,000	22,500	1,026	103
30,000	30,000	15,000	684	69

This package provides funeral services for a departed member through Montezuma Monalisa Funeral Home Limited. It helps to reduce the cost of giving your loved ones a decent send off by taking an affordable plan for self, spouse, children and parents. The package also has a benefit to offset outstanding medical bills at the time of death and meeting the cost of advertisement in the obituary (Newspapers) .

Requirements

For Commencement of Cover

1. Member application forms
2. Copy of pin certificate
3. ID copies and Birth Certificates for children
4. Payment of premium

Claims Settlement Requirements

1. Immediate notification
2. Burial permit or death certificate

Main benefits

• Mortuary fees
• Coffin
• Transport
• Embalming
• Preparation of remains
• Death Certificate
• Complimentary services

Additional benefits

1. Payment of outstanding medical bills – Royal and Executive package
2. Advertisement in the obituary – Royal package only

Package benefits

NB: All figures are in Kenya Shillings

Package	Royal	Executive	Premier
Mortuary Fees	10,000	10,000	10,000
Coffin	70,000	50,000	20,000
Embalming	8,000	8,000	8,000
Preparation of Remains	1,500	1,500	1,500
Transport	92,500	75,500	40,000
Death Certificate	15,000	15,000	15,000
Outstanding Medical Bills	75,000	40,000
Advert in the Obituary	28,000
Total Benefit	300,000	200,000	100,000

Services

• Lowering gear, curtain and carpet
• Church trolley
• White stickers for mourners
• Red tags for cars
• Coffin delivery to mortuary
• PA system
• Cemetery cross with name on brass plate
• Chapel
• Gazebo tent
• Wreath

Money Max Plus

We’ve put together a Life and Investment product that works for your futuristic plans. It’s the combo that works!

This is an investment driven product that generates high returns for you by our fund managers through well-tailored investments from your contributions. Let your money work for you.

We also provide the option of Life cover benefits alongside the Investment component. This includes an optional total and permanent disability benefit and an optional funeral cash benefit.

What You Need To Know:

1. There is a clear split in your premium between the Life and Investment cover. 60% of the amount is allocated to the Life cover while 40% is allocated to the Investment cover.
2. The Investments have a guaranteed return of 5% p.a.
3. You can vary your premium contributions within our stated terms of policy.
4. The policy carries for a minimum of 8 years and a maximum of 15 years with an additional management fee of 2%.

Benefits

1. Partial Maturity

Depending on which two options of this policy you choose:

Duration/Term	Option 1	Option 2
4 years to maturity		20% of the sum assured
3 years to maturity		20% of the sum assured
2 years to maturity		20% of the sum assured
1 years to maturity		20% of the sum assured
Maturity	100% sum of the assured value plus fund value	100% sum of the assured value plus fund value

Option 1 is tailored to pay the sum assured on maturity while Option 2 is tailored to provide partial payments on maturity (within the last 4 years before it completely matures).

2. Total Permanent Disability (TPD)

In the event of total permanent disability, within the term/duration of the policy, the total amount covered for this benefit will become payable. This is an optional benefit and bought at an extra cost.

3. Demise

In the event of your demise, within the term of the policy, the full sum assured will be payable to your beneficiaries. Additionally, a funeral cover of Kshs 20,000 will be provided (plus any additional funeral cover bought at the beginning of the policy).

It’s all about your future. Prepare with Madison.

Uniplan

Your child’s higher education goals are just as important to us.

Uniplan is an investment policy that enables parents and guardians to save up to guarantee their children’s university education.

This policy allows you as a parent/guardian to:

1. Predetermine the cost of university early enough thus allowing you to have a structured saving plan towards a set goal depending on their course of choice.
2. Fund the policy flexibly – you can contribute whatever amount you are able to (minimum of 5000) during the term/duration of the policy
3. You can consider it a medium or long term plan as the policy term is 5 to 15 years.

Benefits

1. The policy is a life policy that offers cover upon your death but is still an opportunity for you to collect high returns on the initial amount in the policy.
2. Has a minimum guaranteed return of 5% p.a
3. In case of your unfortunate demise or disability, while the policy is still valid, we will drop any additional payments on policy premiums and we guarantee to fund the child’s university education.
4. In case of the unfortunate demise of the child/beneficiary, while the policy is still valid,   the parent/guardian has the option to either: continue with the policy until initial maturity date, nominate another child or receive a full amount of the value of the fund thus far.
5. If the child fails to join university, the full fund value (once it matures) will be payable to the parent/guardian
6. If the course is more expensive than what it was insured for, there is provision to revise the policy.

The policy also has a 2% management fee.

Secure your future and theirs too.