Masomo Cover – Capex Life Assurance

Masomo Product

Education is the most important legacy you can leave for your children. Educating a child in the current education system needs better balance between your future school fees requirement and your ability to save. With Capex Life Assurance Masomo Plan, we guarantee your child’s education whether you are there or not.

Features

Minimum monthly premium contribution is Kshs. 2,000.

Has a dedicated investment account that provides a generous financial build up at a guaranteed rate of 6% per annum.

Funds invested in a balanced fund to maximize returns.

Education loan equal to 50% of cash value of the policy, payable after three years of premium payment.

At maturity, the Maturity Value less any outstanding policy loans is payable to the assured either in lump sum or installments.

One year waiting period on natural death for sum assured below Kshs. 1,000,000. There is no waiting period for accidental death.

Optional Cash Injection - Free injection of additional cash into the investment account after the policy has been in force for at least one year.

Sum Assured is calculated as Annual Premium X Term; Maximum of 10 Years.

Premium are tax exempt and benefits are tax free.

Benefits

Natural Death: Waiver of premium kicks in and maturity benefit payable to named beneficiary at end of term.

Maturity Benefit: Payment of total accumulation in investment account plus returns less any partial withdrawals or loan during the policy period.

Permanent Total Disability: Waiver of future premium and payment of maturity value on maturity date.

Optional Rider Benefits

Accidental Death Benefit: Payment of 100% sum assured to the named beneficiaries of the policy and Waiver of premium kicks in and maturity benefit payable to named beneficiary at end of term.

Critical Illness: 25% of sum assured payable to the life assured upon first diagnosis of a known critical illness.

Premium Payment

Premiums are payable monthly, quarterly, semi-annually or annually depending on the investor’s choice by cheque or standing order or by Mpesa. Cash payment is not accepted.

The minimum monthly premium is divided into:

Insurance premium

Investment amount (Allocated percentage)

Risk Premium is calculated on the basis of the age of the member at the time of cover and does not change during the policy period.

The total premium less risk premium and policy fee forms the investment account.

Optional Rider Benefits

Accidental Death Benefit: Payment of 100% sum assured to the named beneficiaries of the policy and Waiver of premium kicks in and maturity benefit payable to named beneficiary at end of term.

Critical Illness: 25% of sum assured payable to the life assured upon first diagnosis of a known critical illness.

Entry Eligibility

Minimum entry age is 18

Maximum entry age is 52

Maximum insurance age is 60

Policy Term

Policy period runs from 7 years to 20 years if taken immediately at birth.

Request Quote

Masomo Product

Features

Benefits

Optional Rider Benefits

Premium Payment

Optional Rider Benefits

Entry Eligibility

Policy Term

Group Life

Individual Life

Official info:

Privacy Policy