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Life Cover (Term Assurance)

This policy has been designed to enable one to have a pure life cover that can be used as security on a loan.

This policy can be used by an organization that needs to offer a life cover to the key persons in the company, such that in the event of the death of the key person, the company is compensated.

This policy provides an inheritance for dependents.

The premium will be payable for the policy term selected (capped at 20 years) or until the death of the life assured if it occurs within the term.

The minimum and maximum ages at entry are 18 years and 70 years respectively. The maximum maturity age is 75 years.

What are riders and why should I take them?

Riders are benefits that come as compliments to your plan and offer additional benefits to you at a relatively low cost. The riders include:

  • Accidental Death Benefit - Where an additional amount equal to the sum assured will be paid in the event that you die as a result of an accident.
  • Total & Permanent Disability - Where an amount equal to the sum assured will be paid to you over a period of 24 months in the event that you become disabled as a result of an accident or illness.
  • Waiver of Premiums - In the event that you become totally and permanently disabled, all future premiums will be waived and the policy will remain in force.
  • Accident hospitalisation Benefit -In the event that you or the beneficiary child are hospitalized as a result of an accident, APA would reimburse the inpatient medical costs incurred, subject to 60% of the policy sum assured to a maximum of KShs. 500,000.
  • Retrenchment Rider - This rider enables the life assured keep the policy in force in the event that he/she is retrenched during the period of the policy.
    •  The cover allows you to include all members of your nuclear family together with your parents and parents-in-law and provide peace of mind thanks to APA pumzisha cover.

    Product Specification

    a) Premiums

    1. Life assured’s age.
    2. Frequency of premium payment.
    3. level of cover selected.
    4. Term of the policy.
    The premiums can be paid on a monthly, quarterly, semi-annually or annually and the modes of payment include Standing Order, Cheque, and Direct Debit Authority, M-Pesa or Salary Check off.

    b) Policy Terms

    1. The policy term ranges from 5 to 20 Years.
    2. Premium will be payable for the policy term selected or until the death of the life assured if it occurs within the term of the policy.




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    Our main products features include:


    Survival Benefits

    Option 1:On survival to the life assured to the end of the selected term, 15% of the premiums paid will be paid.
    Option 2:On survival to the life assured to the end of the selected term, no benefit will be payable.

    Death Benefits

    100% of the sum assured.

    Rider Benefits

    On payment of additional premium, the following rider benefits are available;

    1. Total and Permanent Disability

    On total and permanent disability due to an accident, an amount equal to the basic sum assured will become payable in equal monthly installments over a period of 24 months from the date of the accident. The disability referred to must be such that there is neither then or at any time thereafter any work, occupation or profession that the life assured can do to earn or obtain wages, compensation or profit.

    2. Accidental Death

    On death, due to an accident, an amount equal to the basic sum assured will become payable. This is in addition to the main benefit.

    3. Waiver of Premium

    All future premiums will be waived following total permanent disability due to accident or illness.

    4. Medical Reimbursement Rider

    In case of an accident leading to the injury and hospitalisation of the life assured, the in-patient medical expenses incurred will be reimbursed subject to a maximum of 60% of the policy sum assured but not exceeding Kes. 500,000/-.

    5. Critical Illness rider

    In the event of first diagnosis of a specified critical illness, an amount equal to 30% of the sum assured is payable to the life assured up to a maximum of Kes. 300,000. Includes: Cancer, Stroke, Heart Attack, Kidney Failure, Paraplegia or Paralysis, Coronary, Artery Disease, Major Organ Transplant, e.g. Kidney transplant.

    6. Retrenchment rider

    In the event of loss of employment due to adverse business conditions e.g. introduction of new technology or re-organization of the business by the employer, future premiums will be waived off up to a maximum of 6 monthly installments. This will cease if the assured secures employment before the end of 6 months.

    Additional benefits :

    Paid Up and Surrender

    The policy does not acquire a surrender or paid-up value.

    If you are interested in learning how much this insurance product would cost you, or if you are interested in purchasing this insurance product, please click Get Cover.

    If you would like further explanation or assistance about this insurance product, please click I Need Assistance.

    Download forms will give you access to any relevant documents for this insurance product, such as the brochure, proposal form, etc.



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