Insurance company, UAP Old Mutual holdings has launched a digital insurance cover that will allow a registered member to manage last respect expenses in the event of the death of a family member.
The new cover will be accessible from one’s mobile phone allowing convenience while also being affordable as it is available from a low cost of Sh50 a month, meaning the lowest cost will be Sh600 per year. It will include the principal member and up to five members of his/her nuclear family. 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.
According to Jerim Otieno, UAP Old Mutual Group MD for the Life Business, the cover will not only ease the financial burden of the family after the passing of a loved one, it will provide convenience on how customers engage with the product. He also added that taking the digital route was the right path as the current environment is grappling with challenges brought about by the pandemic.
“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,” he said.
Children included in the cover 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.
Mr. Otieno added that UAP Old Mutual remains keen on developing innovative solutions featuring easy enrolment, premiums and claims payment processes.
“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,” he said.
The UAP last expense solution also has benefits for registered and non-registered groups including chamas, church members, welfare associations and alumni groups, and resident community associations among others.
