Introducing the Faida Elite Insurance plan, a versatile universal life insurance product designed to grow with you. This plan offers premium payment flexibility, robust investment opportunities, and a comprehensive death benefit, ensuring that your evolving insurance needs are always met.
Why Choose the Faida Elite Insurance Plan?
Flexible Premium Payments
- Invest your extra savings and top up your investments anytime.
- Choose the most convenient way to pay your premiums: yearly, half-yearly, quarterly, monthly, or as a single premium.
Easy Liquidity
- Enjoy up to three partial withdrawals during the policy term, after the policy has been active for two years.
- Each withdrawal will be capped at 15% of the fund value.
- Full Withdrawal, allowable from the first policy year.
Adequate Protection
- Safeguard your family with a life cover ranging from KES 100,000 to 1,000,000 throughout the policy term.
Attractive Investment Returns
- The Faida Elite Plan invests in a diverse portfolio managed by seasoned professionals, aiming to deliver competitive returns on your investment. This helps ensure that your money works for you.
- The power of compounding - your investments will grow over the years, providing significant potential for wealth accumulation. The longer you stay invested, the more your money will grow.
Start at KES 5,000 per month or KES 100,000 for a single premium.
SMS Faida to 24464.
Key Benefits
Easy Liquidity
Flexible Withdrawals
Professional Fund Management
Attractive Investment Returns
FAQs
Individuals aged between 18 and 80 years are eligible to enroll in the Faida Elite Plan.
- Copy of your National ID
- KRA PIN
- Duly filled application form
- Monthly premiums: Minimum of KES 5,000 or equivalent depending on frequency
- Single premium: Minimum of KES 100,000
You can choose to pay your premiums annually, semi-annually, quarterly, monthly, or as a one-time single premium payment.
The plan invests your contributions in a professionally managed portfolio designed to deliver competitive returns. Your investments grow over time through the power of compounding.
The Faida Elite Plan offers life cover ranging from KES 100,000 to KES 1,000,000, ensuring financial protection for your family.
Yes, the following charges apply:
- Fund management fee: Annual fund management fees shall apply.
- Mortality premium: Based on your age and selected life cover
- Partial withdrawal charge: KES 600 per transaction
- Partial withdrawals: Allowed after two years, capped at 15% of the fund value, and up to three times during the policy term.
- Full withdrawal: Allowed from the first policy year, but a penalty applies based on the duration the policy has been active.
A withdrawal charge will apply based on how long the policy has been active:
| Duration in-force | Withdrawal Charge – Regular premium | Withdrawal Charge – Single Premium |
| 1 to 12 | 15% | 10% |
| 13 to 24 | 10% | 5% |
| 25 to 36 | 5% | 2.5% |
| 36 onwards | 0% | 0% |
