Dealing with the passing of a loved one is one of the most painful things that families have to deal with. It takes a heavy toll on emotional well-being as well as financial. Unfortunately, it is something we will all have to live with, and it is best to be prepared so that when the inevitable happens, the burden of preparing for burial is this much lighter.
UAP Old Mutual has launched a last expense digital cover for just this kind of preparation. To help families in terms of expense in the event of the death of a family member.
Some of the features that the cover comes with are a low monthly payment of as low as fifty bob per month, which makes the total annual payment just Ksh600/-. That is for the lowest cost. The product is clearly priced to accommodate customers from all walks of life with a wide range of sum assured benefits hence making it extremely accessible.
An additional dependant (child) and parent(s) can be added 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 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 and cover remains effective until the insured passes on subject to continuous cover renewal.
Since it is digital, users will be able to sign up for it in under five minutes. They can do this either from their mobile phones or any other device and what’s more, it has a mobile payment application. This remote onboarding and payment makes it safe during these times of Covid-19.
Included in the cover will be the principal member and five members of his/her nuclear family. That means a parent and five children, or a couple and four children.
The UAP last expense solution has benefits for registered and non-registered Groups including chamas, church members, welfare associations and alumni groups, resident community associations among others.
“The introduction of this last expense solution highlights our commitment to addressing emerging and rapidly changing needs of our customers. As a business, we are alive to the fact that clients are looking to access services with ease.”
There is need to constantly evolve and provide convenience to our customers hence the ease of sign up and claims process for this product. The new solution has an integrated mobile money payment application making premium payment easier”
UAP Old Mutual Group MD for the Life Business, Jerim Otieno