Bima ya karo educational policy from Madison insurance

Bima ya Karo Educational plan is a wonderful insurance option that helps parents/guardian to create a guaranteed fund for provision of their children's education  expenses whether the parents or guardians are disabled ,alive or not. Its a sure way of securing children's future education.

Features of Bima ya Karo plan

Bima ya karo is an Educational insurance policy for a term of between 10 yrs and 15 yrs to individuals of ages between 18 to 60 years.

Cash value
This policy acquires cash value after being active for a minimum of 36 months with all premiums fully paid.

Policy loan
A percentage of the cash value can be advanced to the policy holder as a policy loan payable within a maximum period of 3 years.

Tax relief
Bima ya karo education insurance policy provides a tax relief of 15% of the total premiums paid annually of sums up to ksh.60,000.

Benefits of Bima Ya Karo

Basic benefits
  • The life Assured is covered in the event of  untimely death or total disability as a result of an accident.
  • Cash benefits are payable during the 5 years preceding totalling to 250% of the basic sum assured plus accrued bonuses.
  • In an event of untimely death or permanent disability of the life assured while the policy is in force, all future premiums shall be waived and all benefits shall be paid.
Optional benefits

These are additional benefits that are optional and are offered at an additional cost.
  • Upon death of the parent/guardian while the policy is still in force , Madison insurance shall pay an amount equal to 50% of the basic sum assured for the up keep of the child.
  • Upon diagnosis of a critical illness such as cancer, kidney disease, etc while the policy is still in force , Madison shall pay 25% of the basic sum assured.
  • This policy also provides funeral cash benefits as follows:
Main life assured  ksh100,000
Spouse  ksh 100,000
Child ksh 50,000

Madison Insurance Office locations and contacts

To contact Madison Insurance for guidance or for more information concerning Bima Ya Karo Education Plan one can use the following:

Madison Insurance House
Upper Hill Close
P.O BOX 47382- 00100
Nairobi, Kenya.
Cell: +254 709922000
SMS: 20286


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