Retirement Benefits - Life Assurance

Life assurance helps to free the individual from concern about the fate of the dependants after on the death of breadwinner.
Life policies may be used to secure a decent income after total retirement. Life policies can also be used as collateral for loans to finance an investment venture.

A very economical way for one to make provision for dependants is by way of life assurance. This may be effected in the following ways:

  • Whole Life Assurance; The sum assured is payable ton the death of the life insured and in no other circumstances. This is the ideal method of providing for dependent relatives.
  • Endowment Assurance; This is life assurance for a specified term, usually a minimum of 10 years, during which life cover is operative. At the expiry of the term the insured collects the sum assured plus any bonuses accrued. In this way the life assured can make provision for fir the dependants during the currency of the policy and, should the insured survive, he /she will receive the sum assured plus bonuses at maturity.
  • Family Income Policy; The family income policy provides a capital sun insured on death in the usual way but, if the death of life assured occurs within a specified period, say 20 years, a further sum is payable by installments for the remainder of the 20 year period. This policy provides higher cover during the early years when a person´s family is growing up and heavy expenses are incurred.
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Legacy Insurance Services
Level 2, Shri Ganesh Plaza,
Plot 24/26 Entebbe Road
Phone: +256 - (0) 414 - 341 553
Email: info@legacyinsurance.co.ug
Legacy Insurance Services
Cianda Hse, 3rd Floor Suite 4,
P.O.Box 52487- 00100 Nairobi, Kenya
Phone No: +254 - 202 - 710- 561/254 -791 -297-665
Email: info@legacybrokers.co.ke
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