Credit Life Plus

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//Product type - (e.g. term life, endowment, motorcycle) Term Life (attached to credit accounts), with riders

Credit Life Plus Insurance.

Distribution partner types (e.g. MFIs, banks, coops, retailers) are Banks, MFIs

Compulsory group credit life coverage with flexible benefits and a voluntary personal accident riders .

This is a group product, Compulsory for base product (with benefit package pre-configured by MFI), and voluntary for add-on riders .

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What does Credit Life Plus cover?

Voluntary rider:
Personal Accident; for accidental death and total or partial permanent disability, with benefits of up to KES500,000 - pro-rated for partial disability Hospital Cash; with daily lumpsum of up to KES2,500) from 1st day of hospitalization, for max. 30 days .

    • Mandatory base Product: Risk: Death of debtor and spouse (optional)
    • Benefit: Outstanding loan balance, or original loan amount
    • Additional “funeral” benefit of up to 2x original loan (optional)
//Insurance Type

Premium Rate- TBA

Premium Payment- Annual or Monthly

Base product is modular, with theoretically 54 different benefit configurations for MFIs to choose from