old mutual last expense nipebima

Old Mutual Last Expense Cover

This Last Expense Cover pays out a cash benefit within 48 hours of the death of an insured family member to help cover funeral expenses. For a small premium, you can transfer the financial risk of funeral expenses to the insurance company and ensure that your loved ones have a smooth send-off. This can provide much-needed relief from the burden of fundraising from friends and family.

Want to Run a Quote?

To see how much it will cost you, fill out the few details below to see your customized quote and know how much the cover will cost you.


Category:
  • This last expense Covers the main member, spouse, and up to 4 children (or 5 children for single parents).
  • Additional children, parents, and in-laws can be covered for a small additional fee.
  • Children are covered up to age 18 (or 24 if they are still in school or college and financially dependent on their parents).
  • The main member, spouse, and parents must be under age 75 when they apply for the policy. Once they are approved, they are covered for life as long as they renew the policy each year.
  • Coverage amounts range from KES 50,000 to KES 500,000.

There are 2 types of covers that you can sign up for; Single Claim or Multiple Claim

  1. Single claim cover pays a sum of money to the beneficiaries upon the first death of an insured family member within 12 months of the policy start or renewal. The policy then lapses, and a new policy must be purchased to cover the remaining family members.
  2. Multiple claim cover pays a sum of money to the beneficiaries upon the death of insured family members within 12 months of the policy start or renewal, up to a maximum of 3 claims per year.

Here is a table that compares the two types of cover:

Type of cover Number of claims Policy status after claim
Single claim 1 Policy lapses
Multiple claim Up to 3 Policy remains in effect

So which type of cover is right for me?

The type of cover that is right for you will depend on your individual needs and circumstances. If you are looking for a more affordable option, single claim cover may be a good choice. However, if you are concerned about the financial impact of multiple deaths in the family, multiple claim cover may be a better option.

Reviews

There are no reviews yet.

Be the first to review “Old Mutual Last Expense Cover”

Your email address will not be published. Required fields are marked *