Imarika Plus Insurance Savings Plan
Imarika Plus Insurance Savings Plan
Save and earn competitive returns whilst enjoying a free life insurance cover.
About Imarika Plus Insurance Savings Plan
Are you looking to invest in a plan that provides a safety net for your lumpsum savings deposit? Imarika Plus Insurance Savings Plan is designed to give you great returns for your hard-earned cash. Imarika Plus Insurance Savings Plan is an investment-linked plan that offers you superior returns, free life insurance cover and flexibility. With a minimum deposit of Kes 200,000, you can get started on your investment journey today.
Why invest in Imarika Plus Insurance Savings Plan?
- Competitive returns - Enjoy returns of 8 - 12% per annum (p.a.) on your investment. In the event of poor market performance, this plan has a guaranteed return of 5% p.a. on maturity.
- Tax relief - If you opt for a long-term investment 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 p.a.
- Flexibility – You’ll not be not expected to make any regular deposits. However, you’re free to make additional deposits of Kes 100,000 at any time throughout the duration of your policy to grow your fund even faster
- Partial and full withdrawals - The minimum investment period is 5 years, but you can access some or all your funds after the 2nd year at no charge.
- Protection - Enjoy free funeral expense cover of Kes. 100,000 if the fund value is retained above 200,000. In the unfortunate event of death will be paid to your beneficiary within 48hrs to cater for the funeral expenses.
- Transparency - You will receive monthly statements via your email address and fund balance updates via your mobile phone.
Key Product Features
- Single lump sum at maturity: At the end of your policy, you will receive the maximum of the fund value or the savings premiums earning the minimum guaranteed return of 5%.
- Funeral Expense Benefit: The policy comes with an inbuilt funeral cover of 100,000 payable to the beneficiary upon the death of a policy holder within 48hrs ,subject to a policy value of 200,000 and above.
- Partial Withdrawals: If you need money in an emergency, you can withdraw your funds at any time during the plan. However, if you withdraw in Year 1, there’s a 5% charge, and in Year 2, a 3% charge. After that, there are no withdrawal fees
- Have a valid national identification card or Kenyan passport or Alien ID.
- Minimum age of entry of 18 years
- Maximum age of entry of 85 years
- Any other eligibility criteria shall be determined based on underwriting guidelines from time to time
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