Upon application, the customer should understand the following key terms before signing up:

• Policy term ranges from 9 to 18 years (period of cover and benefit eligibility)
• Premium paying term ranges from 5 to 14 years (period premiums are paid)
• Policy maturity is 4 years with predefined benefits
• Pays 15% of the sum assured periodically and a final payout of 45% of the sum assured
• Total payout amounts to 105% of the sum assured plus bonus
• Minimum premium is KES 2,000

The policy provides the following benefits and conditions:

• Death benefit payable if first premium is received and policy is active at time of death
• No waiting period on SOMA NA CO-OP product
• On natural death or permanent total disability, 50% of the sum assured is paid immediately
• Permanent total disability includes medically certified inability to earn income or loss of use of both hands, feet or eyes
• Funeral expense of 15% of the sum assured paid immediately (natural death only)
• Future premiums are waived after death or disability
• Policy remains in force with continued benefits
• Four partial maturities of 15% of sum assured each are paid
• Final payout of 45% of the sum assured is made
• Accidental death benefit pays 150% of the sum assured immediately
• Funeral expense of 15% paid immediately for accidental death
• Critical illness benefit pays 50% of the sum assured on first diagnosis
• Covers illnesses such as heart attack, stroke, cancer, kidney failure, paraplegia, major organ transplant and bypass surgery
• Future premiums waived under critical illness
• Policy continues with partial maturities and final payout
• Surrender allowed after policy has been in force for at least 3 years
• Policy loan up to 85% of surrender value available after 3 years
• 30-day cooling-off period with full refund if no claim has been made
• 30-day grace period for premium payment while cover remains active

The following underwriting terms and conditions apply to this policy:

• No medical tests required for sum assured below KES 3,000,000
• Medical questions must be completed at application stage
• Applications may be accepted or rejected based on responses
• Medical tests required for sum assured above KES 3,000,000 (cost covered by insurer)
• Beneficiaries must be nominated for children below 18 years
• A guardian above 18 years must be appointed for minors
• Premium rates are determined by age, policy term and premium frequency
• Premium frequency options include monthly, quarterly, semi-annual and annual
• Premiums are collected via debit order from the policyholder’s bank account
• A 30-day grace period applies after first missed premium
• Cover remains active during the grace period
• Policy lapses if premium is not paid within the grace period
• Policy lapses after two consecutive months of failed premium collection
• Lapsed policy can be reinstated within 12 months upon written request
• Medical report required if reinstatement is after 2 months
• No cover applies between lapse and reinstatement
• Policy alterations allowed up to a maximum of six times
• Allowed changes include sum assured, premium, beneficiary and policy term (within first year only)
• No alterations allowed in the last 3 years of the policy

The following claim requirements apply depending on the type of claim:

• Death claims must be submitted to any Co-operative Bank of Kenya or CIC Life Assurance branch during working hours
• Duly completed and signed death claim form
• Certified copy of the deceased’s identification documents (passport or national ID)
• Certified copy of burial permit
• Certified copy of claimant’s identification documents
• Police abstract if death is due to an accident
• Certificate of identity duly filled
• Certificate of attending physician duly filled
• Copy of death certificate
• Copy of post-mortem report
• Original policy document or affidavit if lost
• Critical illness claims must be submitted within 60 days of diagnosis
• Proof of critical illness must be provided in writing
• Insurer may require medical examination by appointed doctor
• Medical reports are at the expense of the life assured
• Permanent disability claims require duly completed claim forms by life assured, medical attendant, specialist and employer (if employed)
• Certified copy of policyholder’s identification documents
• Certified copy of claimant’s identification documents
• Police abstract required if disability is due to an accident

The policy does not cover the following circumstances:

• Death or disability resulting from suicide, attempted suicide or self-inflicted injury within the first 24 months of policy commencement
• Death or disability resulting from participation in war, terrorism, riots, strikes, civil commotion or insurrection
• Exposure to poison, radiation or nuclear activity
• Pre-existing disability before policy commencement
• Critical illness occurring before policy commencement
• Being under the influence of alcohol or non-prescribed drugs
• Refusal to undergo medical treatment by a registered practitioner
• Involvement in criminal activities or acts
• Active participation in rebellion, hostility or military action (unless declared and accepted at application stage)