The Last Expense cover provides for the payment of a given amount say, Kshs. 60,000/=, 80,000/= or 100,000/= to the dependants of a deceased employee to take care of the funeral expenses: the amount is paid within 48 hours from the time of notification of death.
We would like to emphasize that policy covers death from whatever cause including death as a result of AIDS - related conditions.
The Scheme is a cheap way of providing for burial expenses immediately a staff member dies.
The last expenses scheme is available with the following provisions and requirements:
- The amount Assured is available within 48 hours after intimation of death.
- The cover can be extended to cover children aged between 4 years and 18 years with an extension to 23 years for those attending college. The same rate applies.
- The cost of this cover is minimal and is designed to be affordable to all classes of persons.
- No medical tests will be required and therefore all employees are covered irrespective of their health status.
- There is flexibility in choosing the amount of the sum assured subject to a maximum of Kshs 200,000/-
- The cover is during the working time of the employee, it ceases on retirement of employee or resignation.
This cover is an additional benefit to the employee if paid for by the employer, this enhances the employee’s confidence with their employer who they see as caring and concerned with their welfare.