Why Sign Up for a Soma Sure Lite Education Plan?
- Flexibility: In addition to your regular premium deposits, this plan allows you to make additional contributions of any amount helping you grow your education fund faster.
- Higher returns: Enjoy competitive returns on your investment with a minimum guaranteed return of 5% per annum.
- Guaranteed payments: You will receive a proportion of your investment as specified below:
1. Two (2) years to the end of your policy, you will receive 35% of the investment fund.
2. One (1) year to the end of your policy, you will receive 50% of the investment fund.
3. At the end of your policy, you will receive 100% of the remaining fund balance.
- Protection: In the unfortunate event of your demise, we will continue to pay your outstanding premiums so that the final payouts remain as you had intended, thus securing your child’s education.
- Tax relief: If you sign up for a policy with a duration of 10 years and above, you get to enjoy a tax relief of 15% of your contribution(s) subject to a maximum amount of Kes. 60,000 per annum.
- Premium holiday: You will not be required to make any premium payments in the last 3 years of your policy.
- Partial and full withdrawals: You can access your funds at any time at no charge.
What Additional Insurance Cover is Available with a Soma Sure Lite Education Plan?
You will be able to take up the following benefits at an additional cost.
- Waiver of Premium on Retrenchment Benefit: In the unfortunate event of retrenchment from your place of work, we will pay your regular premiums for 6 months as you work on securing another source of income.
- Waiver of Premium on Permanent and Total Disability (PTD): In case of permanent and total disability, we will pay your outstanding premiums so that the final payouts remain as you had intended, and the education of your child is not affected.
- Permanent and Total Disability (PTD) Benefit: You will receive a lumpsum payment in the event of permanent and total disability.
- Critical Illness Benefit: You will receive a lumpsum payment on the first diagnosis of a critical illness to assist you to seek medical care locally or abroad and to help you adjust to lifestyle changes.
- Family Income Benefit: Your beneficiary will receive a regular monthly income for a specified benefit payment term in the event of death due to accidental or non-accidental causes.
- Death Benefit: Your beneficiary will receive a lumpsum payment in the event of death.
- Funeral Expense Benefit: Your beneficiary will receive a lumpsum payment in the event of death.
- Have a valid national identification card or Kenyan passport or Alien ID.
- Minimum age of entry of 18 years.
- Maximum age of entry of 60 years.
- Any other eligibility criteria shall be determined based on underwriting guidelines from time to time.
- Complete the application form.
- Attach the following documentation:
- ID copy
- PIN certificate
- Payment mode for future payments
- First payment
- You can get a medical checkup by a doctor from our panel at our cost (recommended)
Or alternatively, visit our website, request a callback, and a financial advisor will get in touch with you to help you sign up.
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