Insurance group, UAP Old Mutual, has launched a digital insurance cover that will help families manage send-off expenses in the event of the death of a family member.
With the new plan, members can sign up for via their cell phones, will cost as little as Ksh.50 a month with benefits of up to Ksh.500,000. The new cover also takes care of the principal member and five members of his/her nuclear family i.e., spouse and four children (or five children for single parents).
Payments for the new plan start from the lowest amount, which is Ksh.50 a month or Ksh.600 annually, and will allow customers to sign up in under five minutes from their mobile phone or other device.
The new insurance plan covers the principal member and five members of his/her nuclear family ,i.e., spouse and four children (or five children for single parents).
UAP Old Mutual Group MD for the Life Business, Jerim Otieno, says in a statement, “The digital last expense cover is not only intended to ease the financial burden on families resulting from the passing on of a loved one but also provide convenience how customers engage with the product. The introduction of this last expense solution highlights our commitment to addressing emerging and rapidly changing needs of our customers.”
Principal members of the cover can add dependants (child) and parent(s) to the cover at an extra premium, depending on the selected benefits under the cover. Children are covered up to the age of 18 or up to age 24 if they are still under the parents’ care and in school/college. The minimum age for children is 3 months, while the upper age limit for the principal member, spouse and parents is 75 years at entry. The cover remains effective until the insured passes on, subject to continuous cover renewal.
The new UAP digital cover has benefits for registered and non-registered groups, including chamas, church members, welfare associations and alumni groups, resident community associations, among others.