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Risk Management and Benevolent Scheme

RISK MANAGEMENT AND BENEVOLENT SCHEME

Members are required to ensure that all details provided are correct and updated regularly.

Upon demise of a regular contributor `{`shares, risk & Loan(s)`}`, the nominated next of kin is paid one and a half times the main scheme deposits (i.e bonus shares of 50%).

Any outstanding main loan of the deceased member is written off against the pool of funds and guarantors released.

In patient medical claim of Kes. 400 per day up to a maximum of 60 days, annually (applicable to the contributor only).

DEATH CLAIMS

DEATH CLAIMS

Death of a contributor – Kes. 50,000.00.

Death of a contributor’s spouse – Kes. 40,000.00.

Death of a contributor’s child (below 24 years) – Kes. 30,000.00 (up to 4 children).

Death of contributors parents/spouse parents – Kes. 20,000.00.

Simultaneous death of contributor and spouse – Kes.80, 000.00.

Members should submit risk claim forms within three (3) months upon occurrence of the misfortune.

Only one claim is honored in the case of several contributors.

Nominated next of kin should submit risk claim forms for loss of a member within Six (6) months upon occurrence of the misfortune

Mandatory internal insurance scheme for all members with monthly premium contribution of Kes.400.00 which provides cover for outstanding loans and main scheme deposits held alongside other benevolence assistance.

Death of contributors parents/spouse parents – Kes. 20,000.00.

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